Alberto Fernandez

Alberto y su familia agradece a Kiva y la comunidad solidaria por la ayuda prestada a su negocio. El esta muy contento de tener financiamiento para esta ciclo productivo que le sera de mucha ayuda para poder generar bienes para la población y también trabajo para el y su familia.

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This is an update for the more than 40 members of the Centro Agricola de Baba Communal Bank. Baba is an agricultural sector located close to 3 hours outside of Guayaquil. Due to location and distance, usually two representatives of the community travel monthly to Guayaquil by bus to make payments for all the individual microentrepreneurs.

Rice is the most prominent crop grown in Baba. A typical rice crop takes approximately 4 months from planting to harvest. The Baba farmers received their loan from Mifex and Kiva and used the funds to purchase soil and fertilizer for land preparation as well as rice seeds and insecticide. Preparing the land and soil for seeding often takes up to one month. Following that, planting occurs.

As mentioned in each borrower's Kiva profile, the repayment schedule for microloans in the agricultural sector differs due to the timing of crop harvests. During the months prior to harvest, income is supplemented by various secondary crops or livestock which can be sold in times of hardship. At present rice harvesting is taking place in Baba. This is a busy time for the farmers and their family members who are putting in long hours of field work in order to complete the arduous process.

The Baba Communal Bank members have all made timely monthly payments but are running late with their last payment due to the rice harvest. They are dependent on the sale of this crop for their loan repayment. Fortunately the weather has complied and the farmers are confident with their wise investment in farming materials and equipment that they will complete their repayments once harvesting season is complete and they have taken their product to market. They are anxious to demonstrate their ability to meet loan requirements as this source of capital is invaluable to their livelihood. The Baba Communal Bank is very thankful for the support of Mifex and the Kiva community.