Bendición De Dios Group
Veronica raises, fattens and sells pigs. She started her business with only two pigs. Later, with a loan from FODEMI, she purchased more pigs so that she could sell one or two pigs each month. Veronica says that her work is going well because she has made progress and now has the possibility to grow her business. Veronica’s new loan will be used to buy more pigs and pig feed. Her past loan helped her increase the amount of animals she has in her herd. In the near future, she’d like to add chickens to her business. Veronica’s dream is to continue growing her business with the support of microloans.
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