Las Abejas Reinas Group
Jose Luis has been selling clothes for four months. He started his business one day by traveling to Santiago with a little bit of money. Jose Luis decided to try his luck by purchasing a few clothes and did very well selling them in Villarrica, which resulted in the start of his business. He has not experienced any huge problems since he also has a stable job, but his only concern is that he has had a few customers who have not paid on the agreed due date.
The money he is requesting will be used to buy more clothes. He believes he will do very well with selling clothes since he already has customers who are requesting more of his merchandise. What he enjoys most about this work is that he gets the opportunity to meet people who have the same interests in getting ahead.
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 EsperanzaFondo 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
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Success!! The loan was 100% repaid