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Las Mercedes Group
In this Group: Elisa, Isidora, Ana, Marta, Maria, Andresa, Epifania, Feliciana, Francisca, Susana, Mariela, Margarita, Mercedes
The communal bank "Las Mercedes" is growing thanks to the training the group is receiving. The members are from a distant community and the foundation has decided to help them so they can increase their business.

Mercedes is one of the members and she works as a street vendor. She will use the loan to buy products such as hats, scarves and socks to sell and generate an income. She wants to continue working and helping her family.

Mercedes defines herself as a very hard worker whose goal is to improve her family's income.
View original language description ↓
El comité “Las Mercedes” esta creciendo gracias a la ayuda de las capacitaciones que están recibiendo, ya que son de una comunidad alejada, y la fundación ha optado por ayudarlas y que de esa forma puedan ir creciendo.
La Sra. Mercedes, una de ellas, es vendedora ambulante y utilizara su crédito para traer productos para la vente, como ser gorras, bufandas y medias para generar más ingresos. Ella quiere seguir trabajando y ayudando a su familia.
Ella se define como una persona muy trabajadora que tiene como meta ir mejorando los ingresos de su familia.

Additional Information

More information about this loan

This loan is designed for poor clients living in rural areas with high levels of crime and social conflict. These clients, working primarily in agriculture, are often ineligible for credit from formal financial institutions because of the high-crime area they live in, their lack of adequate collateral (like a land title), and the likelihood of low agricultural production due to bad weather or pests. Fundación Paraguaya is committed to serving these clients with loans and other wraparound services tailored to their needs. It also provides clients working in agriculture with access to discounted training courses at a local agricultural school to teach them how to improve their crop yields.

About Fundación Paraguaya

Fundación 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.

About Paraguay

  • $8,400
    Average annual income
  • 82
    View loans »
    Paraguay Loans Fundraising
  • $30,772,800
    Funds lent in using Kiva
  • 4,465.0
    Paraguay Guarani (PYG) = $1 USD

Success!! The loan was 100% repaid

A portion of Las Mercedes Group's $1,950 loan helped a member to buy hats, scarves and socks.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2013
Listed
Jul 16, 2013
Currency Exchange Loss:
Covered
Ended:
Jan 17, 2014