Check out some available loans that are similar to this one!
Weftun Group
In this Group: Andrea Alejandra, Claudio Andres, Victor Hugo, Paula Andrea, Patricia Elizabeth, Valeria Cristina, Maria Natividad, Viviana Paola, Paula Andrea, Andrea Elena, Carolina Andrea, Angela Bernardita, Mirta Isabel, Nancy De Lourdes, Evelyn Yusset, Carolina Elizabeth
Andrea who appears on the left side of the photo with short hair standing to the only man is a member of the “Weftun” communal bank which is located in Castro, Chiloé. There are several lines of work in this communal bank like weaving, pastry making, vegetable paper lamp making, used clothes sales, Bach flower therapy and perfume sales.

Andrea’s business is selling textiles she makes herself and also when she has a little more money she’s able to buy new clothes and perfume to sell. She started the business three years ago; her mother-in-law taught her to weave. She’s had no big problems while she’s been working; she’s always been able to count on support from her family.

She will use the money she’ll get to travel to Santiago, Metropolitan Region, to buy purses to sell. What she’s liked best about working with Fondo Esperanza is having learned that help and support are available close by.
View original language description ↓
Andrea, quien en la fotografía aparece al costado izquierdo de pelo corto y está al lado del único hombre; es parte del Banco Comunal Weftun, que está ubicado en Castro, Chiloé. En este Banco Comunal existen distintos rubros los cuales son tejidos, repostería, fabricación de lámparas de papel vegetal, venta de ropa reciclada, terapias con flores de Bach y venta de perfumes. El negocio de Andrea es venta de tejidos que ella misma hace, además cuando tiene un poco más de dinero puede comprar ropa nueva y perfumes los cuales vende. Comenzó con su negocio hace tres años, el tejido se lo enseño su suegra. El tiempo que ha trabajado no ha tenido problemas grandes, siempre ha contado con el apoyo de su familia. Con el dinero que recibirá quiere viajar a Santiago, Región Metropolitana; en donde quiere comprar carteras para vender. Lo que más le ha gustado de trabajar junto a Fondo Esperanza es poder darse cuenta que es una ayuda cercana, mucho apoyo.

Additional Information

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.

About Chile

  • $14,900
    Average annual income
  • 0
    View loans »
    Chile Loans Fundraising
  • $2,587,775
    Funds lent in using Kiva
  • 507.6
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Weftun Group's $4,175 loan helped a member to buy purses.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2013
Listed
Sep 12, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014