Jacqueline who is on the right hand side of the photo has dark hair and is wearing a black coat with gray flowers belongs to the Vega Monumental communal bank. She comments that there are various businesses among which the following stand out: dairy products sales, general store, paramedic, new and used clothes sales, costume jewelry, barber shop and gift and toy shop.
Her business is a general store. She started it a long time ago but since August of 2012 it’s been located in another place called Vega Monumental. The only difficulty has been that since it’s a new place full of locales publicity is low which has caused her sales to drop a bit below normal.
She will use the loan she’s requesting to buy more merchandise for her business. What she’s liked best about working with Fondo Esperanza is the fact of getting to know different life stories, the human quality they work with and the wish to create bonds with the people who form her communal bank.
Jacqueline, que está ubicada al costado derecho de la fotografía es de pelo oscuro y de abrigo negro con flores gris, pertenece al Banco Comunal Vega Monumental, en donde hay distintos rubros entre los cuales se destacan la venta de lácteos, bazar, paramédico, venta de ropa nueva y usada, bisutería, peluquería y tienda de regalos y juguetes. El negocio de ella es un bazar; comenzó hace mucho tiempo con su negocio pero desde Agosto del año 2012 que está ubicada en otro lugar llamado Vega Monumental, lo único difícil ha sido el hecho de que al ser un lugar nuevo lleno de locales hay poca publicidad lo que ha generado que sus ventas bajen un poco más de lo normal, ocupará el préstamo que está solicitando para comprar más mercadería para su negocio. Lo que más le ha gustado de trabajar con Fondo Esperanza es el hecho de poder conocer distintas historias de vida, la calidad humana con la que se trabaja, y las ganas de poder crear lazos con la gente que forma su Banco Comunal.
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.