Santa Teresa Group
One of the members is Salvadora, who is the group's president. She says that she always tries to motivate her fellow members, encouraging them to grow. She makes a living in dressmaking, and she says that she has a very good clientele. She always fulfills her orders with very good work, and she is able to help her family by means of her income.
She is applying for this loan to invest in fabric, because she always wants to be able to fulfill her clients' orders. She is also grateful for this opportunity which Fundación Paraguaya and Kiva are giving the group.
Una de las integrantes es la Sra. Salvadora, quien es la presidenta del grupo, ella cuenta que siempre trata de motivar a sus compañeras, y les anima a que vayan creciendo. Ella por su parte se dedica a la costura y cuenta que tiene muy buena clientela con quien siempre cumple con muy buenos trabajos y con eso ayuda a su familia por medio de sus ingresos.
Ella solicita de este crédito para invertirlo en telas, ya que quiere poder cumplir siempre con los pedidos de sus clientes, también agradece por esta oportunidad que fundación paraguaya y Kiva les da.
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