One of the members is Estefana who works in domestic service and now wants to set up in business selling fruit and vegetables. She is a hard-working person with a lot of drive, and by putting in a lot of effort she wants to make improvements to her life. The work of the advisors must also be highlighted, as they constantly monitor training and follow-up.
Estefana is asking for this loan to buy fruit and vegetables, which will help her to set up her business plan, which in turn will help her to improve her income.
Una de las integrantes es la Sra. Estefana, quien trabaja como empleada doméstica, y hoy quiere poder emprender en la venta de frutas y verduras. Ella es una persona muy trabajadora y luchadora, que con gran esfuerzo quiere poder ir mejorando su vida. También se debe destacar el trabajo de las asesoras, quienes hacen un seguimiento permanente de capacitaciones y verificaciones.
La Sra. Estefana solicita este crédito para la compra de frutas y verduras, lo que le ayudará a concretar su plan de negocio, el cual le ayudará a mejorar sus ingresos.
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