One of the members is Lorgia who is one of the ones with very low income. She wants to get ahead by means of effort and non-stop work. She sells cleaning supplies and through this work is getting ahead and improving her and her family’s life. She works in order to grow and improve every day.
She’s requesting this loan to buy more cleaning supplies to resell because by doing this she invests in her business plan and is able to give her family what they need and also to improve her business.
Una de las integrantes es la Sra. Lorgia quien es una de las que tiene un ingreso muy bajo, desea que a través del esfuerzo y el trabajo continuo y su esfuerzo pueda salir adelante. Ella se dedica a la venta de productos de limpieza, y por medio de este trabajo está saliendo adelante y mejorando su vida y la de su familia. Trabaja por ir creciendo y ser mejor cada día.
La Sra. Solicita de este crédito para la compra de mas productos de limpieza para la venta, ya que haciendo esto invierte en su plan de negocios y puede dar a su familia lo que necesitan y también mejorar su negocio.
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