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Arcoíris Group
In this Group: Yuset Lorena, Claudio Andres, Marioly Alejandra, Ercilia Del Rosario, Ema Ruth, Sara Ines, Miriam Del Carmen, Doris Petronila, Jacqueline De Las Mercedes, Vania Maria Goretti, Monica Alejandra, Patricia Andrea, Friny Del Carmen, Jose Rene, Gina Silvana, Carolina Alejandra, Mayrin Del Carmen, Luis Alberto, Hugo Alejandro, Alex Enrique
The community bank Arcoíris (Rainbow) is located in the Concepcíon VII region of Chile. The group's members have businesses such as a car wash, a cheese seller, an auto mechanic, a fish seller, a hairdresser, and a bakery. Our interviewee, Carolina, is located in the middle of the photo wearing a black jacket and smiling. She is next to a man in a yellow cap. She has a business selling new clothes. She travels to Santiago to buy in bulk. She began her business in a very particular way: when she was 17 years old, her father loaned her $1,000 and she traveled with her brother to Santiago to explore the city. She bought some things in the Patronato neighborhood and when she got home, she sold them all. This is how she began to go to Santiago and buy clothes to order. When she was 19, she stopped working because of the birth of her son. But, last year she began to sell clothes again. She tells us that the bad thing about this business is when she sells clothes to people that don't pay. This has been one of her biggest problems. So, when she came back to selling clothes, she decided to only buy for the people who place orders and pay without problems. In this local cycle, things are going very well as she has assured the sale of the clothes she buys. She adds that, what she has most liked about working with Fondo Esperanza is the fact that they give her advice and counsel and the security that they offer as an institution.
View original language description ↓
En el Banco Comunal Arcoíris, ubicado en Concepción VII región de Chile, participan socios que tienen negocios como lavado de autos, ventas de queso, taller mecánico, venta de mariscos congelados, peluquería y amasandería, y nuestra entrevistada, Carolina, que está ubicada al medio de la foto de chaqueta negra y sonriendo aparece junto a un hombre de gorro amarillo; ella tiene un negocio de venta de ropa nueva, viaja a Santiago a comprar por encargo. Ella comenzó su negocio de una forma muy particular, cuando tenía 17 años su padre le regalo 500.000 mil pesos, y viajo con su hermano a Santiago a conocerlo, y compro algunas cosas en el Barrio Patronato, cuando llego a su casa vendió tanto que así empezó a ir a Santiago y comprar a pedido, a los 19 años dejo de trabajar en eso por el nacimiento de su hijo, pero el año pasado comenzó nuevamente a vender ropa. Lo malo de este negocio, nos cuenta, es cuando uno vende ropa, pero la gente no paga, ese ha sido uno de sus mayores problemas, por lo que en su regreso a la venta de ropa ha decidido solo comprar a la gente que le encarga y paga sin problemas. En este ciclo le irá muy bien, ya que tiene asegurada la venta de la ropa que compre. Además agrega que lo que más le ha gustado de trabajar con Fondo Esperanza es el hecho de que la asesoren y aconsejen, y la seguridad que le entregan como institución.

Additional Information

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.

About Chile

  • $19,100
    Average annual income
  • 0
    View loans »
    Chile Loans Fundraising
  • $2,637,700
    Funds lent in using Kiva
  • 478.0
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Arcoíris Group's $4,400 loan helped a member to buy clothing.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Apr 30, 2013
May 19, 2013
Currency Exchange Loss:
Sep 19, 2013