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Rogelio paid off his first loan through Kiva and Mifex successfully, and now he would like to take out a second microloan. His business is run out of his home, but on weekends he goes out into the local markets to sell with his son, while his daughter watches over the home operation. Mr. A. originally opened his business selling rice, sugar, oil, and greens, which are the most basic ingredients customers buy. Working every day of the week, Rogelio manages his business very carefully, and he has gained 20 years of experience. He continues day-in and day-out because he wants to provide for his family. With this follow-on loan, Rogelio plans to continue building and diversifying his inventory, buying items in cash so that he can receive discounts. The presence of formal banks is very small where Rogelio lives, and their application process is very cumbersome. He also does not want to borrow from the chulqueros or loan sharks. With this second loan Rogelio plans to buy rice, sugar, oil, and a display cabinet.

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About Ecuador

  • $10,600
    Average annual income
  • 93
    View loans »
    Ecuador Loans Fundraising
  • $25,028,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Rogelio with this second loan Rogelio plans to buy rice, sugar, oil, and a display cabinet.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 18, 2006
Oct 28, 2006
Currency Exchange Loss:
Dec 5, 2007