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Virgen Poderosa Group
In this Group: Erica, Viviana, Flora, Cornelia, Florenciana, Rossana, Ananies, Juana, Francisca, Gloria, Sebastiana, Irma*, Maria*
* not pictured
The Virgen Poderosa group is in its fifth cycle of the committee program, in which all the members work and help one another to move forwards. They make a living in various activities. They are participating in the poverty elimination survey, and it turns out that six of them are living under the poverty line, which means that they lack basic resources in certain areas, which needs to be improved.

One of the members is Flora, who makes a living selling homemade food. The business is doing very well, because her food is delicious and is in high demand by her customers. She is a very hardworking woman who, with a great deal of effort, is moving forwards. Today, she is requesting a loan to invest in buying meat, condiments, vegetables and other ingredients to continue making the food she sells.
View original language description ↓
El grupo Virgen Poderosa está en su ciclo número 5º del programa de comité, donde todas trabajan y se ayudan por salir adelante se dedican a sus respectivas actividades. Están haciendo la encuesta de eliminación de pobreza, donde 6 se encuentran por debajo de la línea de pobreza, es decir con deficiencias en ciertas áreas que deben mejorar.
Una de las integrantes es la Sra. Flora, quien se dedica a la venta de comestibles, que ella misma hace y en lo cual le va muy bien, ya que sus comidas son muy ricas y lo piden mucho sus clientes. Es una mujer muy trabajadora que con mucho esfuerzo esta saliendo adelante. Hoy solicita de este crédito para poder invertirlo en la compra de carne, condimentos, verduras y demás insumos para poder seguir con la elaboración de las comidas que vende.

Additional Information

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 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
  • 75
    View loans »
    Paraguay Loans Fundraising
  • $27,639,150
    Funds lent in using Kiva
  • 4,463.7
    Paraguay Guarani (PYG) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgen Poderosa Group's $3,350 loan helped a member to buy meat, condiments, vegetables, and other ingredients.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jul 31, 2013
Listed
Sep 5, 2013
Currency Exchange Loss:
Covered
Ended:
Jan 17, 2014