A loan of $200 helped to buy wool of different colours and varying quality.


Nilda's story

Nilda is 50 years old and lives in the city of Huancayo. She is a widow and lives in a rented house with her 4 children. She has more than 20 years experience in knitting sweaters by hand. With the death of her husband, knitting has become her sole source of income and so she has concentrated her efforts into the knitting business. In order to optimise production and knit the number of garments she needs, she must hire other women to help her. This provides her with a substantial number of sweaters to take to wholesalers on consignment. Despite putting her entire investment at risk, she has known how to get ahead because during this time she has learnt how to manage her income and balance it with a desire to increase her working capital in order to stock basic raw materials. She is new to the communal bank she is a member of and was invited to join by her neighbours so that she could improve her business. She is very excited as she will be able to experience group lending first hand. For this reason she is committed to being punctual with her repayments, grateful for the group's vote of confidence in her. With the loan, she is going to buy wool of different colours and varying quality.

Translated from Spanish by Kiva volunteer Maria Blyth


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Loan details