People living in the street can now become entrepreneurs thanks to an alliance between Fondo Esperanza and Emplea

23 September 2014
Fondo Esperanza

The agreement signed between both institutions will enable a greater number of people to benefit from the integrated service of Fondo Esperanza. A pilot plan will be launched in November 2014 to locate and contact people living in the street so that with the help of Fondo Esperanza they can become entrepreneurs thanks to productive credits, training and support networks.

The aim of this agreement between Fondo Esperanza and Emplea is to give men and women living in the street the opportunity to improve their living conditions through potential businesses they may have under way.

The aim of this agreement is to benefit excluded segments of society and to reinforce networks for growth and training among people affiliated to both institutions. These entrepreneurs will be part of the community bank of Fondo Esperanza and must have previously taken part in the Fosis Seed Capital program.

“The chance to reach out to excluded segments of society is a key aspect of this alliance. We have already set up two groups in prisons in southern Chile, and the idea is to gradually extend the project to people living in a situation of homelessness” explained Mario Pavón, General Manager of Fondo Esperanza, after signing the agreement.

Remo Pompei, Executive Director of Emplea, a foundation belonging to the Hogar de Cristo which supports people in a vulnerable situation who are jobless or irregularly employed, explained that this agreement will be a chance to supplement the work carried out by both institutions. “Many people need to be given an opportunity and Fondo Esperanza has a successful model that allows others to advance in their integrated development”, he added.

The agreement also features a collaboration so participants in Emplea’s training programs can access Fondo Esperanza’s integral service, and at the same time allows entrepreneurs from the social development bank to attend these training courses.