Mejorando La Economia Group
Irene is one of the members and she works in business, that is, she has a grocery store in her house. She works there every day from very early in the morning.
She will use the loan to buy more products to stock her store, such as vegetables, drinks, meat, tinned goods and other items. Her husband is also working. He works in agriculture and therefore he too always helps her with the household costs.
Una de las integrantes, la Sra. Irene, quien se dedica al comercio, es decir tiene una Despensa en su casa, en el que trabaja todos los días desde muy tempranas horas del día y el préstamo lo utilizará para la compra de más productos para surtir su despensa, como ser verduras, bebidas, carne, enlatados y demás. Su marido también trabaja, se dedica a la agricultura, por lo tanto también siempre la ayuda en los gastos de la casa.
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