Javier, the only man in the photo, belongs to the Creando Redes Communal Bank, which is located in Concepción, in the 8th Region of Chile. Its members sell used clothing, sell breakfasts at open fairs, work in tailoring, and work in fashion, and his business is auto mechanics and pastry making. He started his business nine years ago after he got into an accident and had to find other ways to earn an income. He took an auto mechanics course that he could not complete and he worked in bakeries, where he was able to learn how to make cakes and cookies. He had to face the loss of his wife and family, who left him on his own after the accident that left him crippled, but Javier had the courage to get ahead and take courses to learn. Despite this pain in his life, he currently has a partner who has helped him and supported him in every way possible so he can get ahead. Javier will use this loan to buy supplies for his small pastry shop, as well as a mixer and molds, which are staples for his work. He is sure that this will be a very good season for his business and thinks he will even be able to make his payments ahead of time. What he likes most about working with Fondo Esperanza is getting to meet very responsible people, as well as having a great adviser who is great at assuaging his concerns.
Don Javier, en la foto es el único hombre que aparece, pertenece al Banco Comunal Creando Redes, y está ubicado en Concepción, VIII Región de Chile. Sus socios se dedican a la venta de ropa usada, a vender desayunos en ferias libres, sastrería y moda; y el negocio de él está dedicado a la mecánica y a la pastelería. Comenzó su negocio hace nueve años, producto de un accidente del que fue víctima se vio en la obligación de buscar otros medios de donde obtener recursos, hizo un curso de mecánico automotriz, que no pudo concluir, y además trabajo en Panaderías, en donde pudo aprender a hacer tortas pasteles y galletas. Tuvo que afrontar la pérdida de su mujer y su familia, que lo dejaron solo a raíz de su accidente que lo dejo inválido, pero Javier tuvo el coraje de salir adelante y hacer cursos para aprender. A pesar de esa pena de su vida, él actualmente tiene pareja que lo ha ayudado y lo ha apoyado en todo lo que ha podido para que él pueda surgir. Javier podrá ocupar este crédito que se le otorgara en comprar insumos para su pequeña pastelería, además de una batidora y moldes que son básicos para su trabajo; además de estar seguro de que será un muy buen ciclo para su negocio, y en donde podrá incluso pagar cuotas adelantadas. Lo que más le ha gustado de trabajar con Fondo Esperanza es el poder conocer gente muy responsable y además de tener una excelente asesora, con una gran disponibilidad para resolver todas sus inquietudes.
More information about this loan
This loan targets populations in financially underserved regions of Chile. Thanks to its numerous branches, Fondo Esperanza is present nationwide and offers loans to micro-entrepreneurs in a country known for its limited microfinance industry. This Kiva loan enables entrepreneurs to maintain their current businesses in areas where Fondo Esperanza is the only available and accessible financial institution.
About Fondo Esperanza
Fondo Esperanza (FE) is a private non-profit organization that supports entrepreneurship by providing micro-credit and training to people living in poverty in well over 100 cities throughout Chile. By providing these services, FE aims to improve the living conditions of the entrepreneurs and their families. In 2010, FE provided loans to more than 41,000 entrepreneurs. It utilizes a communal banking model in which groups of 18 to 25 clients meet on regularly and guarantee each other’s loans. The members use their portion of the loan to create or expand their own businesses. In the group meetings, clients receive training though the FE Entrepreneurship School, which enhances clients’ personal and business skills and ability to work in groups.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.