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Virgen De Fatima Group
In this Group: Marta, Josefina, Jacinta, Mirian, Nancy, Mariana, Elena, Wencelaa, María, Lorenza, Emilia, Teresa, Ernesta
The communal bank Virgen de Fátima is in its first loan cycle with the women's program. The members live in Curuguaty, a hard-to-reach and somewhat dangerous community on the outskirts of the capital with little access to the media. María, one of the members, strives to support her family through her work, which is raising and selling farmyard animals. The business is modest, but it is her livelihood, and she is trying to make it grow. She has applied for a loan to buy nutritious animal feed to continue with her business.
View original language description ↓
El grupo Virgen de Fátima está en su primer ciclo del programa de comité de mujeres, ellas son de la Ciudad de Curuguaty, una ciudad alejada de la capital, con poco acceso a ciertos medios de comunicación, de muy difícil acceso, y hasta se podría decir un poco insegura.
Una de las integrantes es la Sra. María, quien lucha por dar un bienestar a su familia por medio de su trabajo, que consiste en la cría y venta de animales de corral. Es un trabajo humilde, pero es su sustento y está tratando de ir mejorando. Hoy solicita de este crédito para poder invertirlo en la compra de balanceados para sus animales y así seguir con su trabajo como lo viene haciendo.

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

  • $4,555
    Average annual income
  • 58
    View loans »
    Paraguay Loans Fundraising
  • $27,639,125
    Funds lent in using Kiva
  • 4,454.9
    Paraguay Guarani (PYG) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgen De Fatima Group's $2,275 loan helped a member to buy nutritious animal feed.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 29, 2013
Listed
Aug 29, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 17, 2014