Alejandra, who appears in the photo on the left side wearing a large black parka and a brown handkerchief, participates in the "Las Malabuenas" communal bank. In this bank the members' main businesses are bookstores, sale of new and used clothing, making curtains, hairdressing, lodging houses, perfume sales, and making ceramic and clay figures.
Alejandro sells clothing. She set herself up in business after a long time selling clothing from a shoulder bag, and she made the decision to have an established business. She has not had great problems with her business.
With the money she is requesting she will buy more merchandise and more clothing. She expects her business to do well as she has had good sales. What she has liked the most about being able to work with Fondo Esperanza is being able to meet a group of very fun people where they will be able to help one another.
Alejandra, quien en la fotografía aparece al costado izquierdo con una parka negra larga y un pañuelo café, participa del Banco Comunal Las Malabuenas, en este Banco los principales rubros de las socias son librerías, venta de ropa usada y nueva, confección de cortinas, peluquería, hostales, venta de perfumes, confección de figuras de cerámica y greda. Alejandra vende ropa, se instalo con un negocio después de mucho tiempo vendiendo ropa en bolsos, así que tomo la decisión de poder tener un negocio establecido. No ha tenido grandes problemas con su negocio. Con el dinero que está solicitando comprará más mercadería, más ropa. Espera que con la venta le vaya muy bien, ya que ha tenido mucha venta. Lo que más le ha gustado de poder trabajar junto a Fondo Esperanza es poder encontrar un grupo de personas muy divertidas en las cuales podrán apoyarse.
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.