A loan of $4,925 helped a member to buy merchandise for their business, specifically children's clothing.


Unión Esperanza Group's story

This village bank is called "Union Esperanza" and is made up of 20 entrepreneurs who are in different lines of work including clothing sales and preparing fast food. They all live in the city of La Serena. Karen, the secretary of the bank, is crouching in the front row of the picture in a checkered shirt, smiling. She sells new kid's clothing and makes yeast bread. She sells both the bread and the children's clothing in her customer's homes. She has been baking bread for 3 years and selling clothes for 3 months. She says she buys the clothing in the Patronato neighborhood of Santiago twice a month. She will use the loan to buy merchandise for her children's clothing business. Her goals for her clothing business are to have more clients and after a few years to have a permanent store. For her bread business, she would like to have a bakery in her home. Karen lives with her husband and their children, ages 2 and 5 years old. One of her dreams is to buy their own home, so she has been applying for a housing subsidy. Karen is very happy and thankful for the services of Fondo Esperanza because they have given her the opportunity to invest in her business and this will allow her to give her family a better quality of life. She says that the village bank is very organized and responsible, and that the trainings at their meetings have helped her to invest better in her business. La Serena is a city in the north of Chile, located in the Coquimbo region in the province of Elqui. It is an important tourist site, especially during the summer when people come to the beaches. The city is primarily involved in the service sector and has various banks and financial institutions as well as many restaurants and hotels. In recent decades, tourism has become one of the most important economic activities. Hundreds of cruise ship passengers that arrive in the city of Coquimbo pass through La Serena on their way to visit the Valle de Elqui and other places in the area.

In this group: Sandra , Yessenia, Luz María, Ana María, Karen, Mildren, Yhael, Patricia, María, Milena, Jessica, María, Deidamia, Juana, Dannia, Olga, Ana, Daniela, Haydee, Luz
*not pictured

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Translated from Spanish by Kiva volunteer Mary Berghaus



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