María works alone in her clothing business. This is the first loan that she has requested from Fodemi and she will invest it in buying t-shirts, pants, legwarmers and bags for the Christmas season as this is when her sales, and therefore her income, increase. María plans to increase her business in this way as she needs to make good income in order to support her business and her family.
María dreams of having chains of clothing sales locations so that she can employ people who need work.
María trabaja sola en la venta de ropa, es el primer crédito que solicita a Fodemi, el mismo que va a ser invertido en la compra de camisetas, pantalones, calentadore, sacos para la temporada navideña, ya que en esta fecha aumentan las ventas y por ende sus ingresos. María piensa incrementar su negocio de esta manera ya que necesita tener ingresos buenos para mantener su negocio y a su familia.
María sueña con tener cadenas de locales de venta de ropa para poder emplear a personas que lo necesiten.
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