A loan of $5,400 helped a member to purchase merchandise and supplies that he needs for his business.

Estrella Del Sur Group's story

This Communal Bank is called "Estrella del Sur" (Star of the South) and consists of 18 entrepreneurs who engage in various trades. These include selling jewelry, selling fish, producing handicrafts out of wood, selling marmalades, and selling canned foods. All of the members are from the city of Valdivia.

Hugo, the president of the Communal Bank, is seen standing in the photo. He is the only male member of the Communal Bank. He sells perfumes and has been in this business for seven months. Hugo works by himself. The merchandise he will be needing will be purchased in Santiago. He plans to acquire a wide variety of products for his business. With this loan, he will buy all of the supplies that he needs for working in his business. His business goals include opening a shop in the center of Valdivia.

Hugo lives with his wife, who works as a sales executive (for a telephone company). His 23-year-old daughter works and studies. Hugo dreams of having a public company. He is very pleased with and appreciative of the opportunity provided by Fondo Esperanza to invest in his business. In addition, he is very satisfied to be participating in a group in which the members are unified and reliable.

Valdivia is a city in southern Chile and is located in the region of Los Ríos. This area is known for having one of the few navigable rivers in Chile, the Calle Calle. Valdivia's main industries include ship builders, lumber mills, paper processing plants, cellulose plants (Celco), breweries, and grain mills, as well as educational institutions led by the Southern University of Chile.

In this group: Hugo, Blademira, Teresa, Carol, Dolores, Maria, Maria, Gladys, Olga, Andrea, Jeny, Nancy, Maria, Angelica, Leticia, Maria, Hilda, Marta

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Translated from Spanish by Kiva volunteer Ronan Reodica

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