María is 54 years old, married and has 7 children. She lives with her family in Salcedo which is very near Latacunga in the centre of Ecuador. María describes herself as being responsible and a person of strong character.
She works with her husband and daughters in their bakery. This is the first time she applies to Fodemi for a loan which will be used for the of purchase flour, butter, eggs for making bread. This will increase their sales and revenue which will improve their quality of life.
Her dream is to buy a vehicle to be able to distribute bread to their clients.
María tiene 54 años, es casada y tiene 7 hijas, vive con su familia en Salcedo que está muy cerca de Latacunga en el centro de Ecuador. María se describe como una persona fuerte de caracter, responsable.
Trabaja con su esposo e hijas en su panadería. Es la primera vez que le solicita créditos a Fodemi, el mismo que será utilizado para la compra de harina, manteca, huevos para la elaboración de pan lo cual incrementará sus ventas e ingresos que mejorarán su calidad de vida.
Su sueño es comprar un vehículo para poder distribuir pan a sus clientes.
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