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Carolina's Communal Bank Group
In this Group: Carolina, Gloria, Agicela, Maria, Maria, Julio, Manuel
Carolina is the president of a communal bank that consists of seven people, five of whom are women. Carolina is 20 years old and lives in San Lorenzo in northwest Ecuador. She is unmarried and lives with her parents. Her business, pictured in the photo, is a small general store in which she sells necessities such as cooking oil, canned food, toothbrushes, and selected over-the-counter medicines to meet the needs of her customers.

Carolina works alone and reports that her business is going well. She is seeking this loan, her first, to purchase more products for her store to provide more variety to her customers. She hopes that this loan will help her increase her business. She is a young entrepreneur who began this business on her own and is working to see it grow.

Additional Information

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.

About Ecuador

  • $10,600
    Average annual income
  • 28
    View loans »
    Ecuador Loans Fundraising
  • $26,742,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Carolina's Communal Bank Group's $2,700 loan helped a member to purchase a wider variety of merchandise to stock her store.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Jun 28, 2011
Jul 7, 2011
Currency Exchange Loss:
Mar 15, 2012