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Sotero is a tailor who works with his wife to make suits, school uniforms and other clothing articles. This family business is the main source of income for them and their 6 year old child. This is the second time Sotero is seeking a loan from Mifex and Kiva. With his first loan he was able to boost his production for the school year and saw his income increase significantly. He has made a formal agreement with a large distributor for whom he produces a pre-determined amount of clothing articles per week. He also continues to sell to the people in his community. He is now seeking a second loan with Kiva and Mifex in order to purchase a newer and better sewing machine as well as a large amount of fabric. He anticipates a very busy Christmas season and is thus preparing for a major increase in production.

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About Ecuador

  • $10,600
    Average annual income
  • 70
    View loans »
    Ecuador Loans Fundraising
  • $24,619,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Sotero sotero will invest in a new and more powerful sewing machine as well as in fabrics.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 27, 2006
Nov 12, 2006
Currency Exchange Loss:
Dec 12, 2007