El Progreso Group
Rufina, one of the group members, also serves as treasurer of the group. In the most recent poverty elimination survey that Rufina took as part of the group program, her results indicated that she has worked hard and has leveraged support from group trainings to help improve her family's financial situation. Rufina makes a living operating a general store that sells all types of products, and she also cooks traditional food items for resale to help support her family.
With the support from this loan, Rufina plans to purchase merchandise, specifically school and office supplies, to stock her store. She hopes that this investment will help her to improve the selection of products she offers her customers and will increase her overall profits and income.
Una de las integrantes es la Sra. Rufina, tesorera del grupo, quien en su última encuesta de eliminación de pobreza, el cual les ayuda a conocer el nivel de sus ingresos, mostró que ella esta en un nivel superior, superando así sus ingresos, todo esto gracias al trabajo continuo y dedicación constante. Ella se dedica a las ventas, ya que tiene una despensa bien surtida con todo tipo de productos, además de eso también hace comestibles para poder venderlos y así seguir ganado los ingresos para poder ayudar a su familia.
La señora solicita este crédito para la compra de productos para su despensa (artículos de librería), lo que le ayudará a concretar su plan de negocio, el cual le ayudará a tener más cliente e ingresos.
More information about this loan
This loan is part of the innovative “Poverty Stoplight” program developed by Fundación Paraguaya for women living in poverty. A “stoplight” measurement tool is used to help borrowers self-identify the type of poverty that affects them most (lack of income, dearth of financial opportunities, poor living conditions etc.). Borrowers rate 50 areas of their life as green (not poor), yellow (poor) or red (extremely poor). Together with their loan officer, they come up with a plan to resolve yellow and red indicators. Through this program, Fundación Paraguaya hopes to lift 9,000 women and their families out of poverty by 2017.
To learn more about this unique approach to eliminating poverty, you can read this article on Fundación Paraguaya’s website.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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.
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Success!! The loan was 100% repaid