La Esperanza Group
One of the group members is Sra. Cornelia whose last survey results showed level 1 poverty. She makes and sells empanadas and milanesas (fried foods in breadcrumbs). With the money she earns she is able to help her family. Cornelia is the type of person who wants to give to her family all the things that she wasn’t able to have--that’s why she works so hard.
Cornelia is seeking a loan to buy meat, flour, eggs, empanada rounds, vegetables and other ingredients so she can continue making empanadas and milanesas. This will help her earn more money and improve the business.
Una de las integrantes es la Sra. Cornelia, quien en su última encuesta mostró un nivel de pobreza dentro del nivel uno cuenta cuenta que hace empanadas y milanesas para la venta, y que con este trabajo tiene los ingresos para poder ayudar a su familia. Es una persona que quiere dar a sus familiares todo lo que ella no pudo tener, es por eso que se esfuerza tanto.
La Sra. Solicita de este crédito para la compra de carne, harina, huevos, discos de empanadas, verduras y demás insumos para poder seguir haciendo las empanadas y milanesas que hace, ya que esto le ayudará a tener mejores ingresos y mejorar su plan de negocios.
More information about this loan
This loan is part of the innovative “Poverty Stoplight” program developed by Fundación Paraguaya for women living in poverty. A “stoplight” measurement tool is used to help borrowers self-identify the type of poverty that affects them most (lack of income, dearth of financial opportunities, poor living conditions etc.). Borrowers rate 50 areas of their life as green (not poor), yellow (poor) or red (extremely poor). Together with their loan officer, they come up with a plan to resolve yellow and red indicators. Through this program, Fundación Paraguaya hopes to lift 9,000 women and their families out of poverty by 2017.
To learn more about this unique approach to eliminating poverty, you can read this article on Fundación Paraguaya’s website.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid