Virgen Del Carmen Group
One of the members is Ylda, who in her survey showed a poverty level inside level one, which is to say with low income, and she should continue putting forth effort. Through her effort and continuous work, and through the sale of empanadas she is trying to move forward.
She is asking for this loan in order to be able to buy a freezer to save her meat products and vegetables that she uses to make empanadas, since the climate is very hot and she wants to keep them fresh. She is happy for the opportunity that she is receiving to continue growing.
Una de las integrantes es la Sra. Ylda, quien en su encuesta mostró un nivel de pobreza dentro del nivel uno, es decir con ingresos bajos, y debe seguir esforzándose, ella a través del esfuerzo y el trabajo continuo y por medio de la venta de empanadas está tratando de salir adelante.
Ella pide de este crédito para poder comprar un congelador para guardar sus productos cárnicos y hortícolas los cuales usa para hacer sus empanadas, ya que el clima es muy caluroso y quiere mantenerlos frescos. Está contenta por la oportunidad que recibe de 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