A loan of $7,425 helped a member to buy soft drinks, gas, benches and chairs.

La Nueva Esperanza Group's story

The communal bank "La Nueva Esperanza" is comprised of 13 men and women who are hard workers and, especially, enthusiastic. They are located in the main municipality which is known for its traditional celebrations. The members of the group say that they used to work with another micro-finance group named "La Conchita", but they had many internal problems so decided to change. They met Vision Fund and, for them, it is a new way of working. Since they were beginning again, they took the name "La Nueva Esperanza" (New Hope). Mary, 48, is the representative of the group. She is married to Manuel and they have four dependent children.

Mary has been in the business of selling tacos since she was 16. She says she began the business because a relative of her husband's had a restaurant-bar but after a while decided to close it. Mary's husband opened the business again to sell tacos. On this occasion, Mary is requesting a loan to buy soft drinks, gas, benches and chairs for her business. She enjoys her work and through much effort and hard work has been able to open four street vending locations. However, these are not her own places, but on loan, and Mary lives with the anguish that one day she will be ousted. Mary says "I only dream about having my own business in my house so we do not have to suffer like this".

Like Mary, the other members of the group also have their dreams and goals with their families, but what they want the most is to improve their lifestyles. The members of the group are Teodora and Cristina, who run taco stands, J Carmen who has a tire business, Juan Luis who has an Internet Café, Jose Juan and Francisco who will buy corn for tortillas, Isabel who will buy bedspreads and sheets, Pasucala who will buy costume jewelry, Imelda who will buy shoes, Arnulfo who will invest in his pastry business, Elena who will buy groceries for her store and Jacqueline, who will invest in her stationery store. All of the members are very happy and grateful to Vision Fund and KIVA for this loan which will be helpful to their businesses.

In this group: Ana Maria, Teodora, J Carmen, Juan Luis*, Cristina, Jose Juan, Francisco, Isabel, Pascuala, Imelda, Arnulfo, Maria Elena, Jaqueline
*not pictured

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Translated from Spanish by Kiva volunteer Sherry Bess

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