Kuña Rory 2 Group
One person whose story is worth telling is Sra. Rumilda. She works and strives to improve her poverty situation. Rumilda is aware that the only way to grow is through work. She has a food pantry that she established with great sacrifice. Today her business is growing and she is able to help her family. At the moment, she is requesting a loan so that she can restock her food pantry with vegetables, fruits, meat, canned goods, and other products. This will enable her to continue offering a wide variety of items to her customers.
Una persona digna de contar es la Sra. Rumilda, quien con su trabajo y esfuerzo está mejorando su situación de pobreza, ella es consciente que la única forma de crecer es por medio del trabajo. Tiene una despensa, que con mucho sacrificio pudo montar, y que hoy en día ya ha crecido bastante y con lo cual ayuda a su familia. Hoy pide de este crédito ya que quiere surtir su despensa con verduras, frutas, carne, enlatados y demás, y así seguir ofreciendo una buena variedad a sus clientes.
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