Mujeres Emprendoras Porá Rekavo Group
With the loans they receive from Fundación Paraguaya they invest in the purchase of products for their businesses, such as ingredients for chipas, men’s and women’s clothing, and food items such as sugar, cookies, meet, oil, and milk.
The group members express their thanks to Fundación Paraguaya for the support they have given in providing the women with capital. They also feel very pleased to be part of the Women’s Entrepreneurs program as the beneficiaries are their own businesses. The women invested their previous capital loans that they received into their businesses and with their good management the results have been excellent. These days, their small businesses are in a stage of growth.
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