Margarita, who is the woman sitting on the sofa with short, light hair and grey boots, belongs to the Mar Azul del Cañete Communal Bank. In this bank, most of the members sell seafood, clothing, or are seamstresses.
Margarita sells clothing at the business that she owns with her husband. They also sell groceries. They started this business about 2 years ago and only sold fish, since they are fishermen.
The loan that they have requested will be used to buy more merchandise for their business. She knows that everything will go well with her business' sales.
The thing that she likes most about working with Fondo Esperanza is the fact that she has found great support and unity in the group to which she belongs.
Margarita, quien en la fotografía aparece sentada en el sofá, es de pelo corto y claro y botas gris, pertenece al Banco Comunal Mar Azul de Cañete. En este Banco el principal rubro es la venta de mariscos, ropa y costuras. Margarita vende ropa en el negocio que tiene junto a su marido en donde venden abarrotes. Este negocio lo comenzaron hace aproximadamente 2 años en el cual comenzaron solo vendiendo pescados., ya que ellos son pescadores. El dinero que solicitan es para poder comprar más mercadería para su negocio. Sabe que le irá muy bien con la venta en su negocio. Lo que más le ha gustado de trabajar junto a Fondo Esperanza es el hecho de encontrar una gran ayuda y unión en el grupo al cual pertenece.
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.