Las Mercedes Group
One of the group members, Sra. Tomasa, has a store in her home, where she works long hours starting early in the morning. Sra. Tomasa is a very tenacious person who is striving to improve her life through her tremendous efforts. She observes that running a business was very complicated at the beginning, but that she now has excellent customers.
Sra. Tomasa is applying for a loan to purchase wholesale foods, vegetables, baked goods, and other products to boost her store's inventory. She is grateful for the opportunity the loan will provide her to continue to grow her business.
La Sra. Tomasa, una de las integrantes tiene una despensa en su casa, en la que día a día trabaja desde muy tempranas horas del día. Ella es una persona muy luchadora, que con gran esfuerzo está creciendo y luchando por mejorar sus condiciones de vida. Comenta que al principio cuando empezó le fue muy complicado, pero hoy en día ya tiene muy buena clientela.
Ella solicita el crédito para la compra de comestibles, verduras, panificados, y demás para volver a surtir su despensa. Ella agradece por esta oportunidad que recibe, que le permitirá seguir creciendo.
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