A loan of $6,650 helped a member to buy fries, drinks and different flavored sweets to stock their business.


El Rey Group's story

This Communal Bank is called “El Rey”: it is made up of 18 entrepreneurs who work in retail, more specifically in the sale of clothes, fast food, street stall products, the sale of fruit and vegetables, and services among others. They all live in the municipality of Conchalí located in the city of Santiago.

Verenise, a member of the Communal Bank group, is standing in the front row in the photo and is the fourth from the right. She is wearing a black jacket and black trousers and has her hair tied up. She works as a convenience store vendor. She has been working in this field for 1 year and mentions that she works alone in her own home. Her working hours from Monday to Sunday are from 11am to 10pm. Verenise generally buys her goods in supermarkets and wholesalers, as they are the places in which she finds her goods at a low price, which makes it financially convenient.

With the loan, she will buy fries, drinks and different flavored sweets to stock her business. Her aims are to continue with the business, to generate more income, and with that achieve a better quality of life. Verenise lives with her mother and her siblings. She dreams of having a bakery in her own home.

Verenise is very pleased and grateful for the loan and services offered by Fondo Esperanza. Moreover, she says that she feels at ease with the communal bank's meetings and group as there is generosity and unity.

Conchalí is a municipality in the metropolitan region (where Santiago, the capital of Chile, is found) located to the north of the capital. It has an industrial district and several small economic and commercial activities, including fairs, craft workshops, car parking and bus terminals among others. The microenterprise sector plays a very important part in its commercial activity.

In this group: Verenise, Osvaldo, Juana, Adrian, Vania, Ivana, Jesus, Eduardo, Claudia, Andrea, Washington, Grimilda, Juan, Myriam, Maria, Maria, Cyntia, Cristina

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Translated from Spanish by Kiva volunteer Severine



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