Ecuador
Please note: Due to the current economic and social instability in Ecuador, the country is experiencing record levels of regional displacement and migration. While this is not a pattern we are seeing across the country, it is worth noting that during this time your loans in Ecuador may be at more risk of delay or non-repayment.
Fioder, a 41-year-old farmer, resides in Catacocha. From an early age, he mastered the art of producing panela, a skill passed down by his father, who instilled in him this valuable tradition.
With over 15 years of experience, Fioder now cultivates sugarcane and produces this essential sweetener, a cornerstone of his region’s rural economy. His microenterprise oversees the entire production process, including cutting the sugarcane, milling it to extract the juice, cooking, and moulding the final product. Each wooden mould yields 50 pieces. Producing roughly 29 quintals per month, he generates a monthly gross income of around £1,000.
In the beginning, Fioder worked on family and neighbouring plots, surrendering 40% of his production as part of the agreement. Through perseverance, he acquired three hectares of his own land, complete with an irrigation system, marking a significant milestone for his business. He also upgraded to a motorised sugarcane mill, greatly enhancing production efficiency.
However, challenges remain, particularly during winter, when firewood shortages disrupt the cooking process. Despite this, his microenterprise is a source of pride and financial stability. With a monthly net profit of £575 after expenses, Fioder plans to invest in a new sugarcane mill, hire labourers for weeding and production, and improve the roof of the milling area.
The loan Fioder requested will allow him to hire three temporary workers, upgrade his facilities, and sustain the production of panela—a critical component of the local economy. His determination and vision exemplify the industrious spirit of his community.
Loan added: 6 December 2024
Fioder Bladimir's loan repayment schedule
| Date | Expected repayments | Actual repayments |
|---|---|---|
| £274.46 | ||
| £0.00 | ||
| £0.00 | ||
| £304.96 | ||
| £0.00 | ||
| £0.00 | ||
| £304.96 |
The above amounts are indicative, based on the exchange rate the day this loan was added to the website. The actual amounts you will receive will be based on an exchange rate at the time the repayment is returned to your account. See our Help Centre for more information.