Dominga, one of the members, sells clothing, candies, and beverages. She will use the loan to buy clothing for inventory. She was living above the poverty line in the last survey, but she continues to enthusiastically invest the funding from the women's program in her business and to increase her and her family's income. The work of the advisors, who continuously follow up on training and required certifications while encouraging the women to strive for progress, is exemplary.
Dominga es parte de este grupo, ella se dedica a la venta de ropas, golosinas y gaseosas y el crédito lo utiliza para la compra de ropas para volver a surtir su stock, ella en su última encuesta se encontraba fuera de la línea de la pobreza, pero de igual manera sigue muy entusiasmada invirtiendo el dinero del préstamo que realiza dentro del comité, lo que le ayuda a invertir en su negocio y a seguir mejorando sus ingresos y el de su familia.
También se debe destacar el trabajo de las asesoras, quienes hacen un seguimiento permanente de capacitaciones y verificaciones que de alguna manera exigen y al mismo tiempo incentivan a las mujeres a luchar para poder progresar continuamente.
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