6 De Julio Group
This group from the San Pedro Neighborhood was formed through another group formed in the same neighborhood. All the women participate in business; selling merchandise on the international bridge (oils, flour, sugar, detergent, pastas and other foodstuffs), also selling cosmetics, cell phones, clothing, sheets and towels. A woman works raising chickens, and other have their own businesses at home (store, hair salons, tailoring). The amount of money that each woman receives varies from 300,000 to 1,000,000 guaranies( Paraguayan currency, $75-$250), the all use the loan to buy merchandise for their current businesses.
Translated from Spanish by Sandy Juárez, Kiva volunteer.
Este grupo del Barrio San Pedro surgió por medio de otro comité formado en el mismo barrio. Todas las señoras realizan actividades productivas venta de mercaderias en el puente internacional (aceites, harinas, azucar, jabon en polvo, fideos y otros productos comestibles) tambien venden cosmeticos, telefonos celulares, ropas, sabanas y tohallas, Una señora tiene negocio de cria de pollos y otras negocios propios en su domicilio( despensa, peluqueria, y modista). El monto que recibe cada señora varia de 300.000 a 1.000.000 gs (~$75-$250), todas las señoras destinan el crédito para comprar mercaderias para las actividades que ya estan realizando actualmente.
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