Mirador De Yahuarcocha Group
Paola works together with her coworkers in a workshop making shirts of Indian fabric. This is her first loan with Fodemi, and it will be used to purchase an industrial sewing machine that will help to save time and increase productivity.
Paola dreams of having a large workshop in order to be able to employ people who need it.
Paola trabaja junto con sus compañeras en un taller de confección de blusas de tela indú. Es el primer crédito que realiza en Fodemi, el mismo que va a ser invertido en la compra de una máquina de cocer industrial, que ayudará a optimizar tiempo y ayudará a una mejor productividad.
Paola sueña en tener un taller grande para poder emplear a personas que 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