Richard, who is standing beneath the light, is a member of the Los Castreňos communal bank, which is in Castro, X Región. There are different fields of work in this communal bank. Among the different fields of work there are greenhouses, mini supermarket, lunches, empanadas, collectives, pastry making, and catering services.
Richard’s business has to do with greenhouses and nurseries. He started it two years ago as a result of not having stable work. He wanted to look for an alternative to any problem. That is how he chose to make a greenhouse and cultivate plants. He also grows murta berries, which are used exclusively to make marmalade.
The problems that he has had to overcome are basically not being able to have the resources he needs to fulfill his dreams and needing more money in order to have a peaceful sense of well-being.
He will use the loan to buy supplies to have more plants and to enlarge his greenhouse. He is very positive and very sure that the next cycle will go very well for him. This is because his wife has been able to have businesses and choose secure jobs in the future.
He is very happy and grateful to work with Fondo Esperanza and to learn new things. He is very enthusiastic about being able to continue progressing with the communal bank cycles.
Richard, quien aparece bajo la lámpara; es socio del Banco Comunal Los Castreños, que está ubicado en Castro, X Región. En este Banco Comunal se encuentran distintos rubros entre los cuales destacan los invernaderos, mini supermercado, almuerzos, empanadas, colectivos, repostería y banquetería. El negocio de Richard está vinculado a los invernadores y viveros. Él lo comenzó hace dos años, producto de falta de trabajo estable, quiso buscar una alternativa por cualquier problema, así que opto por hacer un invernadero y cultivar plantas, además de enraizar murtas, que son de exclusividad para hacer mermeladas. Los problemas que ha tenido que sobrellevar son básicamente el no poder contar con los recursos necesarios para cumplir sus sueños y tener más dinero para tener un bienestar tranquilo. El préstamo lo ocuparía en comprar insumos para tener más plantas y además agrandar en pequeño invernadero con el que cuenta. En el próximo ciclo está muy positivo y muy seguro de que le ira muy bien ya que su señora ha podido hacer negocios y optar a trabajos seguros a futuro. De trabajar con Fondo Esperanza está muy contento y agradecido de aprender cosas nuevas y muy entusiasmado para poder seguir avanzando con los ciclos del Banco Comunal.
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.