San Jorge Group
Rosa is one of the group’s members and sells various types of jewelry to order to her customers. She says that she has become known to her customers, so things are going well for her. She is hardworking and dedicated and wants to get ahead through her own efforts and sacrifice. She is asking for this loan so she can buy jewelry for resale and in this way be able to continue working and improving her quality of life.
Rosa es una de las integrantes de este grupo, ella vende joyas variadas a sus clientes y clientas, sobre pedidos. Cuenta que se hizo ya conocida ya entre sus clientes y es por eso que le va muy bien. Ella es muy trabajadora y luchadora que quiere salir adelante por medio de su propio esfuerzo y sacrificio. Hoy solicita de este crédito para poder comprar joyas y revenderlas y de esa forma poder seguir luchando e ir mejorando su calidad de vida.
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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