A loan of $2,400 helped a member to buy merchandise.

El Progreso Group's story

This communal bank is made up of 15 entrepreneurs who work in the field of commerce, specifically: the sale of doughy bread, craft production, food sales, a grocery store, vegetable sales, and other services. They all come from the city of San Antonio. Alicia is seen in the photo in the communal bank centre, wearing blue pants, a black sweater and a brown jacket over that. She is carrying a brown handbag and has straight hair. She works in the field of sewing, making tracksuits for the students in her city. She has worked in this field for 6 years. Her merchanidse is purchased in the city of Santiago because it is cheaper and there is a greater variety of products. With the loan she will buy merchandise. Her goals are to become independent and have her own workshop, to generate more income, and thus achieve a better quality of life. Alicia lives with her husband and three children. One of her deams is to become a microentrepreneur to manage her business and her earnings. Alicia is very happy and grateful for the loan and services made by Fondo Esperanza. She also states that she feels very content with the meetings and the group at the communal bank, as generosity and unity exist there. San Antonio is a port in the Valparaiso region, which is one of its principal characteristics, located in the central coastal region of Chile. Fishing and the sale of fish are developing in an important way. Because of its port acitivity and commercial activity there is a high rate of unemployment.

In this group: Alicia, Fabiola, Marta, Lucy, Maria, Karina, Libertad, Veronica, Claudia, Veronica, Susana, Romina, Margarita, Elena, Nereida

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Translated from Spanish by Kiva volunteer Lorna Gladman

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