Nelby works alone and reports that her business is going well except for the recent rains that killed some of her chickens. Because of this loss, she is seeking this loan to obtain and care for more chickens. This is her first loan and she hopes that it will help her succeed and support her children, as her children’s father does not support them. Nelby’s dream is to build her own house, move forward with her children, and return to school to work on having a bigger and better business.
The Triunfadores Group is composed of four people who live near the city of Ibarra, Ecuador. Their group name means “Triumphant Ones.” There are three men in the group and one woman. The president of the group is Nelby.
About FODEMI, a partner of World Vision InternationalFODEMI is a microenterprise development fund that supports groups of entrepreneurs who lack access to formal financial systems. The organization works with vulnerable populations, especially women, in the marginalized urban and rural sectors of Ecuador. Its clients work in a variety of sectors including agriculture, artisan crafts and the commercial and service sectors. Kiva lenders’ funds are used to expand the organization’s services to the poor living in more rural parts of Ecuador.
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