A loan of $3,500 helped a member to buy flour, oil, margarine, yeast, bags, and shredded coconut.

La Rinconada Group's story

This communal bank is called "La Rinconada." It is made up of 18 entrepreneurs who work in different fields. Included among them are cheese sales, clothing sales, outdoor market vending, flour sales, bread sales, wheat coffee sales, neighborhood grocery store operation, landscaping, hot dog and french fry sales, providing services, and others. All of the members are residents of the city of Concepción.

Veronica, the president of the communal bank, can be found in the photo sitting in the front row, in the first position from left to right. She is wearing a blue shirt and glasses and she wears her light-brown hair short.

For the past four months, Veronica has worked selling baked goods. She makes cakes, "calzones rotos" [fried dough dusted with powdered sugar], sopaipillas [another fried pastry], lemon pie, and rolls.

She says that she works from Monday to Friday in her house on her own schedule. She distributes the pastries according to their availability.

She buys the ingredients and supplies that she needs for her business in supermarkets, distributors, and shops where she finds incidentals that she needs to sell her pastries.

With the loan, she will buy flour, oil, margarine, yeast, bags, and shredded coconut.

Veronica's goals are to continue in her field, to keep selling to businesses, and to perfect her ability to make other products, so that she can aim for a better income and quality of life.

Veronica lives together with her husband, two daughters who are 18 and 13 years old, and her little one-year-old grandson. Her work-related dream is to have a bigger kitchen, and to enlarge their house.

She feels very happy and grateful for the opportunity given by Fondo Esperanza, since it will allow her to invest in her business. Regarding the communal banking group that she belongs to, she says that they have very good communication. In addition, the training has been useful for learning new sales and accounting strategies.

Concepción is situated at the mouth of the Bíobío River, one of the largest rivers in the country, in the Bíobío region of southern Chile. Concepción has had an important role in Chile's history; it was the site of important battles and significant settlements, especially during the Arauco War, because of its location on the frontier of Mapuche territory. Currently, the city is home to important economic and demographic development, now being considered one of Chile's most important urban, demographic, administrative, financial, and commercial centers, after Santiago and Valparaíso.

In this group: Veronica, Marianela, Alejandra, Clodomira, Marlene, Margarita, Mario, Fabiola, Sandra, Daiyan, Patricia, Flor, Jacqueline, Sandra, Debora, Delicia, Maria, Feliza

Translator profile picture

Translated from Spanish by Kiva volunteer Holly Torpey

Loan details

Lenders and lending teams

Loan details