A loan of $3,875 helped a member to buy ingredients for her bakery.

Luz De Los Rios Group's story

This communal bank is called “Luz de los Ríos” (Light of the Rivers) and it’s composed of 19 entrepreneurs who are in a variety of lines of work among which are found lingerie, sewing, crafts, fruit sales, fish store and services, among others. All of them are from the city of Valdivia.

María, communal bank president, is located in the rear of the group occupying the third spot from right to left. She’s wearing her hair loose and she's wearing large hoop earrings and a gray shirt. She’s been working as a baker for 15 years. She comments that she rents a commercial locale from her mother who is a house owner. She prepares her baked goods in an artisan way; she uses her hands.

Her work schedule is Monday to Sunday from 11am on with no specific closing time. Her clientele is regular despite the competition she has around her. She buys the ingredients she uses usually in supermarkets and from wholesalers. She will use the loan to buy various ingredients for her bakery. Her goal is to be able to buy machinery to make her daily work routine easier.

She currently lives with her construction worker husband and nine year old daughter. Her dream is to be able to finish studying computer science.
She’s very happy and grateful for the opportunity Fondo Esperanza is giving her to invest in her business. She also feels very comfortable in the group she participates in because there is respect and trust.

Valdivia is a city in south Chile located in the Los Ríos region. It stands out for having one of Chile’s few navigable rivers, the Calle-Calle. Among
Valdivia’s main economic activities is naval construction, saw mills, paper mills and cellulose (Celco), breweries and flour mills. Tourism also plays an important part as well as university educational services headed by the Universidad Austral de Chile.

In this group: Maria, Maria, Yessica, Yohana, Veronica, Gullermo, Rosalia, Maria, Ariela, Ilce, Mercedes, Alejandra, Carmen, Paola, Monica, Daniela, Evelin, Oriana, Lorna

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Translated from Spanish by Kiva volunteer Polliz

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