María belongs to the Candelaria communal bank located in the Concepción VIII region of Chile. She is in the middle of this photograph, with white skin and blonde hair and a black raincoat with white dots. The members of the bank do different types of work such as selling clothing, vegetables, shower curtains, and cushions. María has a business making and selling shower curtains, school uniforms, cushions, and tablecloths. She learned the work at a technical high school, from which she graduated approximately 30 years ago, and she has also worked at different tailoring businesses. What has given her business the most trouble is the lack of money to keep it going. She hopes to be able to use the loan to buy supplies for her work, which are thread, fabric, and lace. She hopes that it goes very well for her, since despite not having money to buy the supplies, many people have ordered from her and she is only waiting to have the money to start. What she has liked most about being able to participate in Fondo Esperanza is the fact that they have an excellent communal bank advisor who is a very kind person who cares about all the people in the communal bank, as well as having a very good group of people.
María, que está ubicada en el medio de la fotografía, es de tez blanca y pelo rubio, esta con un abrigo negro con puntos blancos, pertenece al Banco Comunal Candelaria, que está ubicado en Concepción VIII región de Chile. En este Banco hay distintos rubro los cuales son venta de ropa, de verduras cortinas de baño, cojines. María tiene su negocio en donde ella confecciona y vende cortinas de baño, ropa de colegio, cojines y manteles. Aprendió en un liceo técnico, del cual salió hace 30 años aproximadamente, y también ha participado en distintos talleres de confección. Lo que más problemas le ha traído a su negocio ha sido la falta de dinero para seguir manteniéndolo. Ella espera para poder ocupar el préstamo en comprar insumos para su trabajo que son hilos, telas, blondas. Espera que le vaya muy bien, ya que ha pesar de no tener dinero para comprar los insumos mucha gente le ha hecho encargos y ella solo espera contar con el dinero para empezar. Lo que más le ha gustado de poder participar en Fon Esperanza es el hecho de contar con una excelente asesora de Banco Comunal, quien es una persona muy amable y preocupada por todas las personas del Banco Comunal, además de contar con un muy buen grupo de personas.
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.