A loan of $5,750 helped a member buy shirts and socks.

El Esfuerzo Group's story

This communal bank is called "El Esfuerzo" (Effort). It is made up of 15 entrepreneurs who work in different fields: preparing fast food, in a bakery, selling candy, making checkbooks and receipts, in handicrafts and in sales, among others. They are all from the city of Osorno.

Sandra is a member of the communal bank, and is pictured on the right side of the photo wearing a purple shirt, jeans, and white tennis shoes. She works in sales, selling clothing for men, women, and children. She has had this business for three years. She says she has good customers, and knows the majority of them. This makes payment easy. Sandra works from Monday to Friday with a flexible schedule. She normally buys her merchandise in the Meiggs district in Santiago. She will use the loan to buy shirts and socks. One of her goals for her business is to set up a permanent shop, which will allow her to sell a greater quantity and variety of products. Sandra lives with her husband, their two children who are 15 and 8 years old, and her mother. Her personal dreams are to have her own house, and to do that she must apply for a housing subsidy.

She is very happy and thankful for the opportunity provided her by Fondo Esperanza to invest in her business. She comments that she also enjoys the company of the communal bank group, as they all get along very well. In regards to the training, they have helped her incorporate new sales and accounting strategies in her business.

Valdivia is a city in southern Chile, located in the Los Rios region. It is known for having one of the few navigable rivers in Chile, the Calle-Calle. Valdivia has, among its main economic activities, a shipbuilding industry, a timber industry, a paper mill, a pulp mill (Celco), a brewery and mills. Tourism plays an important role, as well as educational services, led by the Universidad Austral de Chile.

In this group: Sandra, Griselda, Juan , Víctor, Omar, Eladia, Nancy, Nathalie, Eduardo, Nelly, Nelly, Evelyn, Germán, Luis, Daniel

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Translated from Spanish by Kiva volunteer Emily Meinecke

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