One of the members is named Laura, who in her survey rated a level one on the poverty scale, that is to say she should keep making efforts to improve. She is a housewife, but in order to be able to grow she has been trained to sell cosmetics in her neighborhood in order to generate more income. She says that this loan is to be able to buy various cosmetics to sell. She is grateful for the opportunity that they all are receiving. The younger girls in the photo are the daughters of the borrowers.
Una de ellas es la señora Laura, quien en su encuesta mostró un nivel de pobreza dentro del nivel uno, es decir que debe seguir esforzándose por mejorar. Ella es ama de casa, pero para poder crecer ha sido capacitada para realizar venta de cosméticos en su barrio para generar más ingresos y comenta que este préstamo lo solicito para poder comprar cosméticos variados para la venta. Agradece por la oportunidad que todas están recibiendo. Las chicas menores en la foto son las hijas de los prestatarios.
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