Fresia, who appears with long hair and bangs in the middle of the photo, belongs to the Antu Rayen Communal Bank. This Bank is made up of members who sell new and used clothing, sell food at small stands, work in greenhouses, and sell hydroponically-grown vegetables.
Fresia has an established business selling new clothing, which she started 4 years ago since she moved to Lanco due to her husband's job. She became bored living in the countryside and thought about opening a business, so it occurred to her to sell used clothing. With time and a lot of perseverance to move forward, she was able to begin selling new clothing.
Things were going poorly for a while because her mother-in-law was very sick, which cost a lot of money since she had to travel a lot to be able to be with her mother-in-law. But with the help of her husband and her savings, she was able to move past this.
Now, she needs money to be able to stock her business with more clothing, since she has not had the money to purchase anything.
The thing that she likes the most about working with Fondo Esperanza is being able to work in a group.
Fresia, quien en la fotografía aparece al medio tiene melena y flequillo, pertenece al Banco Comunal Antu Rayen, este Banco se caracteriza por tener venta de ropa nueva y usada, venta de comida al paso y colaciones invernadero y venta de verduras hidropónicas. Fresia tiene un negocio establecido de venta de ropa nueva, el cual comenzó hace 4 años, ya que ella por trabajo de su marido debía ir a vivir a Lanco y como vivía en el campo se aburrió mucho, pensando en que debía comenzar un negocio se le ocurrió vender ropa usada, y con el tiempo y mucha perseverancia para salir adelante pudo empezar a vender ropa nueva. Estuvo muy mal un tiempo ya que tuvo a su suegra muy enferma, lo que ayudo a tener menos dinero ya que debían viajar mucho para poder acompañar a su suegra. Pero con ayuda de su marido y ahorros pudo salir adelante, ahora necesita dinero para poder surtir su negocio con más ropa, ya que al no tener más dinero no ha podido comprar. Lo que más le ha gustado de poder trabajar junto a Fondo Esperanza es el hecho de poder trabajar en grupo.
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.