Maria's Communal Bank Group
Maria Gregoria is 32 years old and married. She lives with her husband and their two sons, aged eight and six years. She is a dedicated and collaborative person. Maria Gregoria buys and raises cattle. She began her business three years ago when she bought a calf. Afterwards, she invested in a milk cow. She currently works with her husband.
This loan is Maria Gregoria’s first and she will invest the money in a new cow. She hopes that this loan will improve the income for her family. Maria Gregoria’s goal for the future is that her family will be able to continue the business and expand it to include selling milk and cheese.
All of the women in the photo and the man in the red hat are the borrowers. The additional men are the husbands of some of the women.
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