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Virgen Del Rosario Group
In this Group: Elisa, Alicia, Rosa, Gloria, Victoria, Bernarda, Lucia, Jorgelina, Liliana, Porfiria, Mirian, Albina, Sandra, Rumilda, Marina, Catalina, Maria*, Alicia*, Nelsi*
* not pictured
Virgen del Rosario is a hard-working group that shows initiative. It is in its eighth lending cycle of the women's committee programme. Group members replied to a survey to know where they are on the poverty scale: three of them are in the red, which means they need to make extra efforts. One of these three is Gloria, whose dream is to improve herself and get ahead in life. She sells cosmetics to her neighbours and acquaintances and is gradually expanding her circle of customers. She wants to buy products in bulk in order to drive down costs, which would also help her acquire a greater variety of cosmetics to offer her customers. She is grateful for this opportunity and knows it will help her tremendously.
View original language description ↓
Virgen del Rosario es un grupo bastante trabajador y con iniciativa, está en su octavo ciclo del programa de comité de mujeres, donde también están haciendo la encuesta de eliminación de pobreza, donde 3 de las señoras están en un nivel rojo, por lo que deben esforzarse un poco más.
Justamente, una de ellas es la Sra. Gloria, una persona que quiere mejorar y salir adelante, cuenta que ella se dedica a la venta de cosméticos entre sus conocidas y vecinas, y que de esa forma y poco a poco se está haciendo conocida y tiene mayor clientela.
Con su préstamo ella quiere comprar productos en mayor cantidad para abaratar los costos, lo cual le será de mucha ayuda, ya que podrá comprar cosméticos variados, y así tener una mayor variedad que poder ofrecer a sus clientas. Agradece por esta oportunidad que está recibiendo, y que le será de mucha ayuda.

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.

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About Paraguay

  • $8,400
    Average annual income
  • 92
    View loans »
    Paraguay Loans Fundraising
  • $30,964,825
    Funds lent in using Kiva
  • 4,239.1
    Paraguay Guarani (PYG) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A portion of Virgen Del Rosario Group's $5,825 loan helped a member to buy cosmetics to sell.
99% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 23, 2014
Listed
Jul 29, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015