A loan of $4,400 helped a member to buy clothing.

Arcoíris Group's story

The community bank Arcoíris (Rainbow) is located in the Concepcíon VII region of Chile. The group's members have businesses such as a car wash, a cheese seller, an auto mechanic, a fish seller, a hairdresser, and a bakery. Our interviewee, Carolina, is located in the middle of the photo wearing a black jacket and smiling. She is next to a man in a yellow cap. She has a business selling new clothes. She travels to Santiago to buy in bulk. She began her business in a very particular way: when she was 17 years old, her father loaned her $1,000 and she traveled with her brother to Santiago to explore the city. She bought some things in the Patronato neighborhood and when she got home, she sold them all. This is how she began to go to Santiago and buy clothes to order. When she was 19, she stopped working because of the birth of her son. But, last year she began to sell clothes again. She tells us that the bad thing about this business is when she sells clothes to people that don't pay. This has been one of her biggest problems. So, when she came back to selling clothes, she decided to only buy for the people who place orders and pay without problems. In this local cycle, things are going very well as she has assured the sale of the clothes she buys. She adds that, what she has most liked about working with Fondo Esperanza is the fact that they give her advice and counsel and the security that they offer as an institution.

In this group: Yuset Lorena, Claudio Andres, Marioly Alejandra, Ercilia Del Rosario, Ema Ruth, Sara Ines, Miriam Del Carmen, Doris Petronila, Jacqueline De Las Mercedes, Vania Maria Goretti, Monica Alejandra, Patricia Andrea, Friny Del Carmen, Jose Rene, Gina Silvana, Carolina Alejandra, Mayrin Del Carmen, Luis Alberto, Hugo Alejandro, Alex Enrique

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Translated from Spanish by Kiva volunteer Alison Hynd

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