Ana María, appearing to the left of the photo, wearing a calipso sweater, with short hair, and a bag, is a member of the Flor de Copihue communal bank, from the city of Valdivia. The members of the communal bank work with pastries, fast food, and new and used clothing sales. Ana María sells fast food and started doing this six years ago. She started with a friend who didn’t help very much, so she decided to go out on her own. Things went well for her and she has been able to provide lunches and get paid later.
She needs this loan so she can sell cheese empanadas. She expects things to go well for her because she has a large demand for empanadas and she needs money. What she likes most is that she is able to work with the fund. Hope is the wonderful thing that has helped and supported those who really need a financial push to move their businesses ahead.
Ana María, quien en la fotografía aparece al costado izquierdo de la fotografía con un sweater calipso de pelo corto y chasquilla, es socia del Banco Comunal Flor de Copihue, que está establecido en la ciudad de Valdivia. En este Banco Comunal los principales rubros son Repostería comida rápida y venta de ropa nueva y usada. El negocio de Ana María es venta de comida rápida, ella comenzó su negocio hace 6 años, lo comenzó con una amiga la cual no le ayudo mucho a la preparación, venta y entrega de los alimentos, así que tomo la decisión de independizarse le fue tan bien, que ha podido dar almuerzos y esperar a que le paguen después de un tiempo. Necesita el crédito para poder vender empanadas, de queso y pino, espera que le vaya muy bien ya que ha tenido mucha demanda de empanadas y por eso mismo requiere el dinero. Lo que más le ha gustado de poder trabajar junto a Fondo Esperanza es lo maravilloso que han sido de poder ayudar y apoyar a las personas que realmente necesitan de un empujón económico para poder sacara adelante sus negocios.
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.