Angel runs a small market with the help of his 3 children. This is the second loan he will receive from Kiva and Mifex. With his first loan he bought a great deal of products at wholesale prices for his store. With the profits he generated he decided to set up a small work station where he fixes radios and other appliances from the community.
He was very happy with the results of the loan and now is applying for a loan of $800. He plans to continue investing in wholesale goods and also wants to buy an arcade machine for the local kids. The machines are particularly cheap because a large arcade in the city has gone bankrupt and they are selling the machines at very low prices. He has noticed that the games are a hit with kids and is confident the machine will generate profit in the long run.
He is pictured with the youngest daughter of his three children and one of his infant grandkids.
Mifex offers its clients microinsurance and access to business training and educational programs. For more information about microfinance, Ecuador, and our services, please visit www.mifex.org.
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Success!! The loan was 100% repaid