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Virgen De Las Mercedes Group
In this Group: Cecilia, Graciela, Rosana, Fatima, Teresa, Liliana, Ramona, Catalina, Maxima, Gloria, Adriana, Diana, Maria, Fabiana, Sabina*, Nidia*, Jessica*
* not pictured
This communal bank is called "Virgen de las Mercedes" and it is in its third loan cycle. While taking the poverty elimination survey, four of the members have been found to be below the poverty level, with a low income, so they must continue to work to improve.

One of the members is Cecilia who is at level one on the survey, meaning she is working harder. She sells lingerie for as living and is able to improve her family's economy this way. She says at first it was a little difficult, but through much effort and hard work one is able to get ahead.

She is requesting a loan to buy a variety of lingerie so she can have more stock to offer customers. She is grateful for this opportunity to improve her life and that of her family.
View original language description ↓
Este grupo llamado Virgen de las Mercedes está en su tercer ciclo del programa de comité, donde todas están haciendo la encuesta de eliminación de pobreza, donde cuatro integrantes se encuentran por debajo de la línea de pobreza, con ingresos bajos, pero que deben seguir trabajando para mejorar.
Una de las integrantes es la Sra. Cecilia en su encuesta mostró estar en el nivel uno, por lo que se está esforzando por mejorar. Está vendiendo lencerías y por medio de esto está mejorando su economía y la de su familia. Comenta que al principio le fue un poco difícil, pero que por medio de su esfuerzo y su arduo trabajo logra salir adelante
Pide de este crédito para poder invertirlo en la compra de lencerías variadas, ya que de esa forma podrá surtirse y tener una mayor variedad que poder ofrecer a sus clientes. También agradece por esta oportunidad que recibe de poder mejorar su vida y la de su familia.

Additional Information

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 Paraguaya

Fundación 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.

About Paraguay

  • $4,555
    Average annual income
  • 58
    View loans »
    Paraguay Loans Fundraising
  • $27,639,125
    Funds lent in using Kiva
  • 4,434.0
    Paraguay Guarani (PYG) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgen De Las Mercedes Group's $4,000 loan helped a member to buy lingerie to sell.
100% repaid
Repayment Term
4 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 8, 2013
Listed
Nov 18, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014