El Rosario Group
Valle Hermoso is a rural parish with approximately 7,000 inhabitants. It is a good place for extreme sports lovers since its waterfalls and rivers are the natural resources most suited for this. It is a place with warm weather and the inhabitants have a very entrepreneurial spirit. They take advantage of the weather for farming and grow fruits such as pineapple, African oil palm, passion fruit and palmetto. Other popular ways to make a living in this area are livestock, poultry and pig farming.
Sales jobs are also very frequent such as in the case of Luz, who for several years has been selling cosmetics through mail order catalogs. Luz has gained a lot of experience in sales and collections. For several hours a day she visits clients to show them her products as well as to deliver orders. She also walks the long streets of the city to collect outstanding balances and to pay her suppliers.
Experience has taught her the importance of always depend on the products that her clients, a majority women, mostly need or use with frequency. This is why Luz would like to increase her business to buy products at whole sale. This way she will receive bigger discounts from the suppliers and also get awards for her purchases which will help her to improve her profits and in this way improve life for her and her son.
Also, becoming a small business woman in the cosmetics industry has always been her dream. Her biggest business hurdle has been the lack of capital and therefore only has a few products. Now, thanks to Fundación Alternativa and Kiva ,she will be able to get a loan from several people from around the world who believe in her. Luz is very grateful.
Luz who is a natural leader, is the head of the “El Rosario” Group. This is a four person group who united behind the same objective, find help to improve and grow with the business they learnt to do a few years ago and improve the quality of life for them and their families.
Her entrepreneur friends, just like her, María Dolores, Manuel and Dina, work different jobs in order to live day to day.
María Dolores grows pigs to sell. This helps her support her six children. She needs her part of the loan to buy pigs and feed for them.
Manuel still works at 65, selling wood and will use his part of the loan to improve his work space and buy tools.
Dina, is a 57 year old woman who has a convenience store which has helped support her family for many years.
The members of this group have in common that they work hard work and they have not given up. Their personal and family motivations have made them stronger so they can keep moving ahead and fight for their dreams.
Luz una mujer que es líder por naturaleza, está al frente del Grupo “El Rosario”, un grupo de 4 personas que se unieron tras el mismo objetivo; buscar apoyo para mejorar y crecer con el negocio que emprendieron hace algunos años para mejorar su calidad de vida y la de sus familias.
Sus amigos emprendedores como ella; María Dolores, Manuel y Dina se dedican a diferentes actividades que son el sustento para cada día. María Dolores se dedica a la crianza de cerdos para su posterior comercialización y esta actividad le ayuda para la manutención de sus 6 hijos, necesita su parte del préstamo para comprar cerdos y alimento para ellos. Manuel es un hombre que a sus 65 años aún trabaja en la venta de madera y utilizará su parte del préstamo para mejorar su espacio de trabajo y comprar herramientas. En cambio Dina es una mujer de 57 años, y tiene una tienda de artículos de primera necesidad la cual ha sido el sustento para su familia durante varios años. Los integrantes de este grupo tienen en común el trabajo duro y esforzado que realizan cada día y que sin embargo no ha sido causa para que alguno se dé por vencido, pues sus motivaciones personales y familiares les fortalecen para seguir adelante y luchar por sus sueños.
About Fundación AlternativaFundación Alternativa encourages entrepreneurship and provides sustainable financial and non-financial services that promote social and economic development in Ecuador. The organization focuses on serving poor and excluded populations through analysis of clients' living conditions and by providing business training and other support services in urban, rural and marginalized parts of the country.
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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