Navegantes De Dalcas Group
Marlene is an artisan of chilota wool, and also teaches loom classes. She began working in this business three years ago. Before that, she was employed at a supermarket and worked Monday through Sunday, which was very distressing because she could not share time with her family. That is why she decided to leave her job and enter in the business of woolen crafts, which she learned to make when she was very young. This way she is able to be closer to her family. One of her biggest goals is to bring loom classes to all of Chile.
The loan that she requests will help her to buy a more modern loom than the one she has, and also to buy more wool since she has many orders for wool garments. She is very happy and excited because she knows that she will do very well.
She enjoys working together with Fondo Esperanza [Hope Fund], because it gives the opportunity to receive money and to be able to share with different people. One of the things that she likes the most is that they always make time to share with the other partners of the bank.
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 EsperanzaFondo 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.
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Success!! The loan was 100% repaid