A loan of $3,325 helped a member to buy an industrial cutting machine.

La Nueva Esperanza De Batuco Group's story

“La Nueva Esperanza de Batuco” community bank has 16 members who all work in different businesses including: itinerant sales, carpentry, cooking, grocery sales, vehicle repairs and second-hand clothes sales. All the members of this group live in Colina neighborhood, in the city of Santiago.

Margarita is the fourth person from the right in the photo. She is wearing a long gray skirt and is wearing glasses. She makes leather goods such as briefcases, purses and billfolds. She also makes backpacks and cases. She provides her services and sells her products wholesale in established businesses and to prestigious, well-known brands. She has been in this line of work for 8 years. Margarita tells us that she taught herself this trade. Between September and May her sales increase since this is the busiest season of the year. When she is not selling wholesale, she sells retail in street markets. Her workshop is located in her new home which is in the town of Batuco. She has five industrial machines.

Margarita's working hours are totally flexible. She tells us that hers is a family business. She buys the supplies that she needs for her business in the Independencia, Patronato and Rosas neighborhoods. She tells us that she is very popular there as she is a long-standing and frequent customer.

With her loan, Margarita will buy an industrial cutting machine. Her goals for her business are to sell her own designs of bags, backpacks and cases. She would also like to buy a vehicle for transporting her merchandise as it is very hard to manage the weight of the backpacks. Her dreams are to own her own established business premises where she can make and sell her products more peacefully.

Margarita lives together with her husband, her 25 year-old daughter, and her 8 year-old grandson. She also has another daughter who is studying and helps her in her business. She is very grateful for the opportunity that Fondo Esperanza has given her, not only as regards the loan but also as regards the values that Fondo Esperanza promote regarding solidarity, unity and trust.

Colina is a neighborhood in the Metropolitana region (where Santiago, the capital of Chile, is located). Colina is in the north of the region. It is currently the center of important investments, mainly in the agro-industrial field, owing to the establishment of big, important companies who provide a lot of jobs to the local community. It is also an area which has pleasant subdivisions, which have significantly increased the number of inhabitants. Furthermore, it offers tourist spots such as thermal baths, sports on the Piedra Roja lake and mountaineering.

In this group: Margarita, Anibal, Daniela, Claudio, Amelia, Jorge, Eric, Jennifer, Ruberlinda, Yazna, Scarlett, Hilda, Juan, María, Patricio, Inés

Translated from Spanish by Kiva volunteer Linda Oxnard

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