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Millaray Group
In this Group: Noemí, Sandra, Karín, Erica, Melita, Dominga, Rosa, Elga, Jacqueline, Sofia, María, Jacqueline, María, María, Angelica, Bernarda, Ximena, Katherine, Octavio, Hilda, Ana, Jocelyn, Paulina
This cooperative bank is called “Millaray” and is comprised of 23 entrepreneurs who dedicate themselves to the areas of furniture making, sales of curtains, purses and food. They all belong to the Cerro Navia community in the city of Santiago. Noemí, who appears at the back of the group in the photo, uses glasses and has short hair. She has dedicated herself to making furniture for the past 1 year and 8 months, approximately. Her customers are primarily established shops. Some of them order furniture upon request.

She buys her merchandise on a weekly basis, as she sells very quickly. For this reason, she needs to supply herself with materials and furniture. One of her children accompanies her to buy varnish, screws and veneer.

Currently, Noemí’s business is the means of financial support for the family. Since her husband passed away, she has needed to be in charge of these tasks.

With the loan, she will buy sheets of veneer, solvent, dye, cola, glass, mirrors, hinges and wheels. In addition, she must pay for the manual labor in order to make the furniture. Her goal is to buy a truck to transfer her furniture to the points of sale. Currently, she uses her van and her son is who drives the vehicle. However, it is very small for all her merchandise as Noemí plans to expand her business to other regions of the country.

Noemí shared her knowledge in this arena with her sister-in-law, and things have also gone well for her.

She lives with her two children, who are 45 and 42 years old. They both help her in the business, which has been a great assistance. Noemí is very happy and thankful for the help provided by Fondo Esperanza; the other members are also grateful as it has allowed them to invest in their businesses. The interpersonal relationships within the group are very good, as they all support each other and collaborate together. With respect to the training, they have been able to incorporate what they’ve learned into their businesses.

Cerro Navia is a community on the western side of the metropolitan region (where Santiago, the capital of Chile, is located). It is characterized by high levels of poverty, being densely populated, having a lack of recreational spaces, and its shortage of job opportunities. The area’s economic growth has circled back to micro-enterprises offering basic products (food, clothing, shoes, liquors, etc.).
View original language description ↓
Este banco comunal se llama “Millaray”, está conformado por 23 emprendedores que se dedican a los rubros de mueblería, venta de cortinas, carteras y comida en una feria persa, todos ellos pertenecientes a la comuna de Cerro Navia ciudad de Santiago.
Noemí quien en la foto aparece al final del grupo del banco comunal, usa anteojos y su cabello es corto. Se dedica a la fabricación y venta de muebles desde hace 1 año y 8 meses aproximadamente. Sus clientes son principalmente comercios establecidos y particulares. Algunos de ellos solicitan muebles a pedido.
Su mercadería la compra semanalmente, ya que vende muy rápido, por lo que necesita abastecerse de materiales y muebles. Uno de sus hijos es quien la acompaña a comprar barniz, tornillos y trupan.
En la actualidad el negocio de Noemí es el sustento económico familiar, desde que falleció su marido, ella debió encargarse de éstas labores.
Con el préstamo comprará planchas de trupan (madera enchapada), macizas (madera enchapada), diluyentes, tinta, cola, vidrios, espejos, bisagras y ruedas. Además debe pagar la mano de obra trabajada para realizar la fabricación de sus muebles.
Sus metas son comprarse un camión para trasladar sus muebles a los puntos de venta. Actualmente usa su camioneta y su hijo es quien conduce el vehículo, sin embargo es muy pequeña para toda su mercadería. Ya que Noemí pretende expandir su negocio a otras regiones del país.
Noemí compartió sus conocimientos en el rubro con su cuñada y también le ha ido muy bien en el negocio.
Ella vive junto a sus dos hijos de 45 y 42 años de edad. Ambos le ayudan en su negocio, lo cual le ha facilitado mucho su negocio.
Noemí está muy contenta y agradecida de la ayuda que le ha brindado Fondo Esperanza, las demás socias también se sienten contentas con ésta ayuda, ya que les ha permitido invertir en sus negocios. Las relaciones interpersonales entre el grupo son muy buenas, ya se apoyan y colaboran. Respecto a las capacitaciones ha podido incorporarlas en su negocio.
Cerro Navia es una comuna de la región metropolitana (donde está Santiago, capital de Chile) ubicada en el sector poniente. Se caracteriza por ser una comuna con altos niveles de pobreza, alta densidad de habitantes por hectárea, falta de espacios para recreación y escasa oferta laboral. El desarrollo económico ha circulado en torno al sector microempresarial de productos básicos (alimentos, vestuario, zapatos, licores, etc.).

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
  • 468.7
    Chile Pesos (CLP) = $1 USD

Success!! The loan was 100% repaid

A portion of Millaray Group's $4,475 loan helped a member buy wood veneers, solvents, dyes, cola, glass, mirrors, hinges and wheels; it will also help her pay for the manual labor to help make her furniture.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Jun 2, 2011
Jun 20, 2011
Currency Exchange Loss:
Oct 15, 2011