Agueda is standing in the back row, behind a lady wearing a green sweater. Her eyes are closed because she is smiling. Agueda is a member of the communal bank Las Perlas y el Diamante [The Pearls and the Diamond]. They all have different activities, like selling at fairs, food sales, used and new clothes sales, and bakery, which is what Agueda does for a living.
Agueda sells desserts in fairs. She started selling popcorn with a cart three or four years ago and she has been selling desserts for two years now. Her siblings have helped her whenever she has had problems to buy ingredients for her desserts. With the loan, she will be able to buy ingredients to make desserts and apples to make caramelized apples. She believes that everything will work fine in this new cycle, which gives her peace of mind.
What Agueda likes the most of working with Fondo Esperanza is the fact that she can spend time with her friends, with who she built this communal bank. They all live in the same neighborhood and have known each other forever, and have given support and help whenever someone has had the need.
Agueda, que está en la última fila al costado izquierdo, con los ojos cerrados porque esta riéndose y detrás de una señora de sweater verde, es una socia que pertenece al Banco Comunal Las Perlas y el Diamante, en el que hay distintos rubros, venta en ferias libres, venta de comida, venta de ropa usada y nueva y repostería, y en esto último es en lo que trabaja Agueda. Ella vende postres en ferias libres, empezó trabajando en un carro vendiendo palomitas de maíz hace tres o 4 años atrás, y hace dos años que trabaja de forma estable en las ferias vendiendo postres. Cuando ha tenido problemas ha podido recurrir a sus hermanos que le han ayudado cada vez que han podido para que ella pudiera comprar los materiales que necesitaba para hacer sus postres. Con el dinero que recibirá podrá comprar más insumos para hacer sus postres y también manzanas para hacer manzanas confitadas. Ella cree que en este nuevo ciclo podrá le irá muy bien y eso la tiene muy tranquila. Lo que más le gusta de trabajar junto a Fondo Esperanza es el hecho de poder estar con sus amigas, con quienes ha conformado el Banco Comunal en el que está, ya que viven en el mismo barrio y se conocen desde siempre, y han sido quienes la han ayudado y apoyado cada vez que lo ha necesitado.
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.