Check out some available loans that are similar to this one!
El Progreso Del Pobre Group
In this Group: Mirian, Oliva Maria, Guido, Emperatriz, Rosa Adelaida, Dinna Eugenia, Marlene, Ana Cristina
Guido is 47 years old and lives with his parents in a community called Olmedo. Don Guido is a fisherman. He works three days a week starting at 4am, when he takes his boat out an hour to start his day of fishing.

When he returns, he sells his fish to intermediate buyers, who then resell his fish with more than a 100% markup on the price they paid him. Don Guido is requesting a loan of $1,000, which he will use to fix his fishing net and repair his boat. In the future, Don Guido wants to get a new boat (made of fiberglass instead of wood) and change out his old off-board motor for a better one. He told us about the challenges that occur on the high seas, where pirates sometimes assault fisherman to steal their fish, motors and sometimes even their boats. In the future, he hopes to work as an intermediate buyer so that he can earn more.

His group is made up of eight people, each of whom will receive $1,000 to invest in their respective businesses. They all have excellent repayment history and are committed to continue to improve their businesses and offer better products to their clients.
View original language description ↓
A sus 47 años don GUIDO vive con sus padres viven en una comunidad llamada Olmedo. Don Guido se dedica a la pesca. Actividad que la realiza 3 días a la semana desde las 4:00 am toma su embarcación y a 1 hora de distancia inicia su jornada de pesca.
Al regreso. Comercializa sus peces a compradores intermediarios. Quienes luego venden este producto a un costo mayor al 100% de lo que el vendió. Don Guido, está en trámite de un crédito por $1000. Con los que podrá restaurar su red yreparara su embarcación. Don Guido desea en un futuro. Cambiar de embarcación (de madera a fibra) a más de cambiar su viejo motor fuera de borda por uno mejor. Nos comentó de las dificultades que tienen en alta mar. Donde son víctimas de asaltos por piratas quienes les sustraen el producto pescado. Los motores y a veces las mismas embarcaciones. A futuro desea ser comprador intermediario de peces y obtener mayor ganancias.
Su grupo está formado por 8 personas. Y cada una recibirá $1000 para invertir en cada negocio. Todos han tenido un excelente pago anterior y están comprometidos en seguir mejorando sus negocios y ofrecer a sus clientes mejores productos.

Additional Information

More information about this loan

This loan is part of VisionFund Ecuador's effort to reach vulnerable populations located along Ecuador’s frontier with Colombia. This region generally lacks access to financial services and is populated by many Colombian refugees seeking asylum from guerrilla warfare. This loan is designed to help these vulnerable populations improve their lives and set up sustainable businesses.

About VisionFund Ecuador

VisionFund Ecuador 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.

Tags

About Ecuador

  • $10,200
    Average annual income
  • 42
    View loans »
    Ecuador Loans Fundraising
  • $23,222,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A portion of El Progreso Del Pobre Group's $8,000 loan helped a member to fix his fishing line and repair his boat, so that one day he can become a fishing merchant.
83% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 8, 2014
Listed
May 1, 2014
Currency Exchange Loss:
N/A