Rosa, who is in the top center of the photograph, wearing a polo shirt, black hair combed back and raising her fingers to the camera, is a member of the “Juntas Emprendiendo Futuro de Cañete” communal bank, located in the Arauco province in the Bio Bio region. The members have different businesses they work in, such as selling seafood, artistic chocolates, wooden arts and crafts, knitting, and silver jewelry.
Rosa is an artist and learned from her husband 17 years ago and her children also help. Her biggest challenge is taking her lovely art out of her community, but she needs to buy a machine that she needs to make more works of art, since her husband sold the others. She is asking for a loan to be able to buy it, as well as lumber, spray paint, and varnish.
Things have gone well for her and she is happy about her sales but she is dependent on the machine so she can expand her arts and things will go much better with her sales. The thing she has liked best about working with Fondo Esperanza is the fact that is helps people and empowers them to become self-sufficient.
Rosa, quien está en medio arriba en la fotografía, con una polera celeste pelo negro peinado hacia atrás y saludando con sus dedos a la cámara, es socia del Banco Comunal Juntas Emprendiendo Futuro de Cañete ubicada en la provincia de Arauco región del Bío Bío. Los socios de este Banco Comunal tienen variados rubros tales como la venta de mariscos, chocolatería artesanal, artesanía en madera, tejido y joyería de plata. El negocio de Rosa es la artesanía en madera, que la aprendió de su marido hace ya 17 años, en la cual tiene participando también a sus hijos. Su mayor desafío es poder llevar fuera de su comuna su hermosa artesanía, pero para eso debe poder comprar maquinaria que le hace falta para fabricar otras artesanías, ya que su marido las vendió, es por esto que está solicitando dinero, para poder comprarlas, además de comprar madera, spray para pintar y barniz. Le ha ido bien, está contenta con sus ventas pero depende mucho de la compa de las maquinas para ampliar su artesanía y qua así le vaya mucho mejor con las ventas. Lo que más le ha gustado de poder trabajar junto a Fondo Esperanza es el hecho de que ayuda a las personas además de con dinero de poder empoderarlas y ayudarles a subir su autoestima.
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.