Mercedes is 57 years old and lives in a cement house with all the basic services in Guayaquil. She is separated from her husband and has children that are all grown and married now.
Mercedes worked as a seamstress and saved money until she was able to open a small store in her home. She works 7 days a week selling rice, oil, perfume, etc. Even though she is separated, her husband still helps her run the store and she is very grateful to have the opportunity to have her own business. Mercedes is able to buy rice for $35 and sell it for 40 cents a pound. The perfume she buys for $30 and sells for $60.
With the loan, Mercedes is going to buy school and office supplies such as notebooks, pens, and pencils.
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.