Hilda is 45 years old and lives with her son in La Esperanza, 15 minutes from Ibarra, in the north of Ecuador. She considers herself to be a hard-working person and is responsible for her son.
Hilda works with her nieces, embroidering tablecloths. This is the second loan she has requested from Fodemi. She will invest it in buying raw materials such as tablecloths, fabric and embroidery thread, which will help her to increase her production so that she can improve her sales and income. Her dream is for her son to become a professional and, on a personal level, she would like to become a big investor so that she can employ some staff.
Hilda tiene 45 años vive con su hijo en La Esperanza que se encuentra a 15 minutos de Ibarra en el Norte de Ecuador. Se considera una persona trabajadora y responsable de su hijo.
Trabaja con sus sobrinas en el bordado de manteles. Es el segundo crédito que solicita a Fodemi, el mismo que va a ser invertido en la compra de materia prima como manteles, tela, hilo para bordar, lo que va a ayudar a incrementar su producción para mejorar sus ventas e ingresos. Su sueño es que su hijo sea profesional y en lo personal quiere ser una inversionista grande para poder emplear a personal.
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