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Sol Y Esperanza Group
In this Group: Angela, Denisse, Carolina , Stephanie, Bernarda, Ana, Luis , Mitzi, Marta , Ivonne, Francisca, Brígida, María , María, María, José
The communal bank “Sol y Esperanza” (Sun and Hope) consists of sixteen associates from Santiago’s Puente Alto district. These individuals' livelihoods consist mainly of store sales, clothing sales, the manufacture of leather crafts, cooking and selling homemade bread, pies, empanadas, and handmade knitted items.

Angela is the president of the group. In the photo she can be found in the furthest row above, and third from the left. She has been selling used clothing for the past two years in a kiosk at two fairs close to her house. Before this she sold articles of leather; for example, coin purses, wallets and cigarette cases, among other things. She decided to change her merchandise to test sales, and thankfully it has gone very well. Angela is also the mother of a seven-year-old boy.

Angela dreams of having her own home in two more years, and to install a business of fast food and a small grocery store.

She has enjoyed working with Kiva partner, Fondo Esperanza, as it has motivated her interaction with other entrepreneurs within the communal bank and with the loan officer. In addition, she receives entrepreneurial training where she learns to administer her accounts, expenses and earnings.

Puente Alto is a community in northern Santiago, the capital of Chile. Puente Alto has nearly 500,000 inhabitants and it is expected to continue growing.

Additional Information

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.

About Chile

  • $19,100
    Average annual income
  • 0
    View loans »
    Chile Loans Fundraising
  • $2,637,700
    Funds lent in using Kiva
  • 494.8
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Sol Y Esperanza Group's $3,725 loan helped a member to buy more used clothing to resell.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Sep 1, 2010
Sep 19, 2010
Currency Exchange Loss:
Jan 15, 2011