Comité De Mujeres Emprendedoras De Caacupé Group
The women are maintaining a line of credit that averages 1,243,000 Guaranís ($249.00) per member. With the loans they have received from Fundación Paraguaya, they have invested in the purchase of products for the production of chipas, items to keep their stores stocked, men’s and women’s clothing, and food items such as sugar, cookies, beef, and oil.
The president of the group, Mrs. Rogelia G., gave her thanks to Fundación Paraguaya for the support and confidence she has received from them. She promised on behalf of the group to uphold the agreement they entered to make payments on time, as they have been doing since their first cycle in the program.
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