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Bolivar's Group
In this Group: Bolivar, Jorge, Jorge
Bolivar is 65 years old and lives near Otavalo, Ecuador. He is single and lives with his 19-year-old son. Bolivar is a calm person who likes to work. His business is a small carpentry workshop. When he was 20 years old, he began his work in carpentry. He learned his craft little by little and really enjoyed it. It allowed him to support his family and build his own house. Now, Bolivar works alongside a nephew. Bolivar will use this loan to purchase raw materials including wood, boards, and paint to make furniture. This is Bolivar’s first loan and he will be able to buy more material at lower costs thanks to the loan. Bolivar’s dream is to see his son finish school.

Additional Information

About VisionFund Ecuador

VisionFund Ecuador 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.

About Ecuador

  • $10,200
    Average annual income
  • 44
    View loans »
    Ecuador Loans Fundraising
  • $23,087,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Bolivar's Group's $1,100 loan helped a member to buy wood, boards, and paint for his carpentry business.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 12, 2011
Listed
Jul 20, 2011
Currency Exchange Loss:
N/A
Ended:
Apr 15, 2012