Jonathan works with his parents in an upholstery business. He started working when his son was born as he needed to care for him and support him. This is the first loan that he has requested from Fodemi and he will use it to buy leather for making upholstery. This will help him to improve his productivity and his income.
Jonathan's dream is to be able to have more branches of his business so that he can improve his income and thereby provide for his son.
Trabaja con sus padres en su negocio de Tapicería, empezó a trabajar desde que tuvo a su hijo ya que necesitaba cuidarle y mantenerle. Es el primer crédito que solicita a Fodemi el mismo que va a ser utilizado en la compra de cuero para realizar los tapizados, que le ayudará a tener una productividad y mejores ingresos.
Su sueño es poder tener sucursales de su negocio para mejorar sus ingresos y así mantener a su hijo.
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