Rubén, who's shown in the photograph in the wheelchair, belongs to the communal bank "Tabita Manassette," which is located in Villaricca in the Araucanía Region of Chile. There are a lot of different lines of work in this communal bank; some which stand out are vegetable selling, new and used clothing selling, candy selling, welding, and dressmaking. Rubén sells peanuts; he is an advertiser, but he never managed to find work in his profession, and the thought of selling peanuts occurred to him as a great idea. He began three years ago with a fund of $12,000 pesos; today he now has three food carts, which fills him with pride and happiness because he also is able to provide employment for other people. He had to confront the lack of money as a large problem; however, he always has thought about marketing well. He has hats and t-shirts that bear the mark of his food carts. The money that he is applying for is to buy goods and also to make repairs to one of his carts. He looks forward to this loan cycle going very well for him. He tells us that he likes to work with Fondo Esperanza very much because of the fact that they don't request so much paperwork.
Rubén, quien aparece en silla de ruedas en la fotografía, pertenece al Banco Comunal Tabita Manassette, Banco que se encuentra establecido en Villarrica, IX Región de la Araucanía en Chile. En este Banco Comunal existen distintos rubros, entre los cuales destacan venta de verdura, ropa nueva y usada, venta de confites, soldaduras y confección de ropa. Rubén vende maní, es publicista, pero nunca pudo encontrar trabajo en su profesión y se le ocurrió esta gran idea de vender maní, empezó hace tres años y con un capital de $12.000 pesos, y al día tiene 3 carritos, lo que lo llena de orgullo y felicidad ya que además puede darle trabajo a otras personas. Ha debido afrontar la falta de dinero como un gran problema, aunque se ha preocupado siempre de hacer buen marketing, tiene gorros y poleras con la marca de sus carritos. El dinero que está solicitando es para comprar mercadería y además arreglos que necesita uno de sus carros. Espero con ansias que este ciclo le vaya muy bien. Nos cuenta que le agrada mucho trabajar junto a Fondo Esperanza, por el hecho de que no solicitan tantos documentos.
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.