A loan of $2,775 helped a member purchase honey.

Ave Fenix Group's story

Margarita is part of the Communal Bank “Ave Fénix” (Phoenix) which consists of eighteen entrepreneurs. They engage in businesses such as manufacturing shoes, managing hair salons, selling gifts, herbal medicines, bicycle parts, clothes, spices, eggs, fruits, and vegetables. The members live in the city of Concepción.

In the photo, Margarita is seated in the second row holding up a white calendar. She sells condiments, dried fruit, honey, and legumes. For the past eight months, she has had a shop established in the market called “Frutos del País” (Fruits of the Country). Margarita buys her goods at the market wholesale and acquires honey from a distributor. The location of her shop is temporary, so she has already started looking for her own piece of land. With this loan, she will purchase honey in bulk.

Margarita dreams of seeing her children continue their studies and become professionals. She also hopes to keep prospering in her business. Her reason for continuing her business is the income it generates, which enables her to provide for the welfare of her six children and give them a better quality education. She is very grateful to Fondo Esperanza. Margarita enjoys participating in meetings, especially for the camaraderie and enthusiasm she experiences as part of the group. Regarding the financing she has received from Fondo Esperanza, the loans have been a great help to her business.

The city of Concepción is situated at the mouth of the Bíobío River, one of the largest in the country, in southern Chile in Bíobío region. This city played an important role in Chilean history since it was the home to major battles, such as the War of Arauco, and a historical settlement since it borders the Mapuche territory. The city is currently undergoing significant economic and demographic development. It is considered to be one of the most important urban, demographic, administrative, financial, and commercial centers in Chile, just behind Santiago and Valparaiso.

In this group: Margarita, Liliana, Margot, Héctor, Teobaldo, Luis, María, Ana, Estrella, Guacolda, Myriam, Sandra, Juan, Adriana, Sandra, Ruth, Magnolia, Tailor

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Translated from Spanish by Kiva volunteer Ronan Reodica

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