Andrea is part of the communal bank “Girasol” and resides in the city of Linares. Andrea has dedicated her livelihood to the production and sales of baking products. Andrea uses a small cart and distributes her products. She has two local store owners as frequent clients and schools near her home. Andrea also takes pre-orders for clients, baking tarts and cakes.
Andrea has managed this business for the last two years. Prior to that, Andrea would sell used clothing. She stopped those sales and decided to dedicate 100% of her time to baking as she noticed sales were better. Andrea relies on her husband’s help. He’s a night shift security guard and he mostly does the frying for the doughnuts.
With this loan, Andrea will purchase materials for her business, such as sugar, oil, wheat and chocolate, and a rustic fireplace to cook their products. Andrea’s goal is to one day own a kiosk or an established sales car where she can sell all of the elaborate products she produces. Andrea is a mother of three: a 13, 7 and a 2 year old.
Andrea has valued the economic support Kiva partner Fondo Esperanza provides and also the support and orientation on how to administer a business provided in part by her loan officer during the weekly meetings.
Linares is an important urban center in the Maule region, which is in the center of Chile and is a vibrant commercial center. Linares has developed as an important export zone, particularly because of its wine production. Despite the fact that the workforce and production has increased, according to the latest census reports, this region remains one of the poorest in the country.
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.