A loan of $3,275 helped a member to buy construction to enlarge her house and set up a locale for a hair salon.

Davinci Group's story

This communal bank is called “Davinci”. It is made up of 17 entrepreneurs who work in different areas. Among them is a book store, a sales kiosk, selling cereals, preparing fast food, selling cosmetics, preparing bread dough. All of them belong to the city of Temuco.

Ruth is a member of the communal bank. In the photo, she is in the second row of the group, standing, second from the left. She is wearing a dark jacket and her hair is loose. She works as a hair stylist. She remarks that 4 months ago, she got her own house and she is setting up her business. She wants to open her hair salon in a space alongside the house itself. To do this, she needs to enlarge it, and then she will have an established locale and she won't have to rent a space. For now, her working hours are flexible and she accommodates her new customer's needs. That way, she will have more customers, since Ruth goes to people's houses to cut and color hair. She buys her materials from a distributor that specializes in hair products.

With the loan, she will buy construction materials to enlarge her house and set up her hair salon. She remarks that setting up her business in an established locale will be cementing one of her goals.

Ruth lives with her husband and her 7 year old son. Her personal dreams are to study psychology and for that she has to take the University Selection Exam ( the PSU). She is very happy and grateful for the loan and services given by the Fondo Esperanza. She also feels very comfortable with the communal bank she belongs to since they are very united and there is trust and respect, despite the differences in age and interests in the group.

Temuco is the capital of the Araucanía region. The is located 670 kilometers south of Santiago (the capital of Chile). Nearby is a series of lake beaches (Pucón, Villarrica) and striking native flora and fauna in its nature parks. It is worth noting that this region has 50% of the country's Mapuche population, an indigenous people.

In this group: Ruth*, Alejandra*, María, Ana, Olivia, Sara, Raiza, Elizabeth, María, Miriam, María, Belinda, Ruth, Ivon, Ingrid, Marta, Mónica
*not pictured

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Translated from Spanish by Kiva volunteer Ellen Donohue

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