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Miguel

Don Miguel is a vendor who has recently moved to the city after living most of his life in rural Ecuador in a town named Quevedo. Although Don Miguel and his wife are older they refuse to be burdens to their children who do not make much money. They purchase certain fruits and vegetables at wholesale prices from his town and take them into the city to be sold. They also bring goods from the city back to Quevedo where they can resell them for a profit. He travels back and forth about twice a week and is happy with his business.



This is Miguel's second loan with Kiva and Mifex. WIth the first loan he was able to invest in a variety of household items that he resold in his hometown. The initial investment allowed him to permanently increase his capital reserves so he could bring in more profits consistently as he was able to purchase more products as investments. He ended up investing in a small plot of oranges in his hometown. He is still waiting to cultivate the profits, but he is very optimistic about this particular investment. Miguel was also able to improve his home by building a bathroom with plumbing inside his home when previously he only had an outhouse. He plans to invest his second loan just as the first one, in household products to resell in his hometown. He wants to continue to improve his home with the profits, beginning by changing the walls which are currently made out of bamboo.



Translated by ChloƩ Tuot, a Kiva Volunteer.

About Ecuador

  • $10,600
    Average annual income
  • 48
    View loans »
    Ecuador Loans Fundraising
  • $24,300,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $875 helped Miguel continue investing in household products.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Jun 9, 2007
Listed
May 23, 2007
Currency Exchange Loss:
N/A
Ended:
Mar 4, 2008