Martha Belgica S. V. is 25 years old and lives in the Fortin district of Guayaquil. Fortin is a semi-urban, marginalized zone without paved roads, water pipes, or a sewer system. Ms. S. lives in a fragile wood and cane home situated on a steep incline. In order to support herself and her son, Ms. S. sells Yanbal products. Yanbal is a popular Latin American cosmetics company, which allows women to be direct sellers of their beauty products. Originally, Ms. S. was paid a "finder's fee" by a friend who sold Yanbal products, but about 1 year ago she decided to become a full-time sales person. Ms. S. has built a base of approximately 20 fixed clients throughout Guayaquil, and she travels to their homes with perfumes and colognes.
Ms. S. is requesting a loan to purchase more Yanbal products. She needs the loan because she offers her clients a “lay away” plan and it often takes them a couple of months to pay the full price of the products (its costs $26 for perfume and $40 for cologne). In the future, Ms. S. wishes to secure her cane home with cement. Hopefully, an increase in sales will help her achieve this. She is grateful for any support we can provide her business, so that her family may prosper!
About Banco D-MIRO
Banco D-MIRO is a microfinance institution that serves the most vulnerable sectors of Ecuador’s economy. It offers very small loan sizes without requiring collateral, expanding access to borrowers who would not otherwise be able to access capital to start and grow their own businesses. It also specifically targets borrowers who are excluded from formal financial systems due to race, ethnicity, gender, disability or illness.