Gregorio is a member of the Communal Bank “San Francisco de Rumí Pamba”. The group consists of 25 members, most of whom are engaged in agriculture. Gregorio has been farming all of his life as the main source of income for his family. Among the crops grown in the area are corn, potatoes, peas, and beans. He sells his products in the city of Guayquil every year.
Gregorio is requesting a loan to buy urea and compost, as well as pay the salaries of his workers. His goal is to build a few greenhouses. The challenges he faces include harvesting his crops when prices are low. Gregorio says that his community of San Francisco celebrates when there is no work left to be completed.
El socio es un miembro de la ventanilla rural “San Francisco de Rumí pamba”. La misma que esta conformada por 25 socios en total, los cuales la mayoría se dedican a la agricultura.
Gregorio trabaja en la agricultura toda su vida como principal fuente económica de su familia. Dentro de los cultivos que más sobresalen en la zona son el maíz, papas, arbeja, fréjol. Vende los productos en la ciudad de Guayaquil cada año.
Gregorio solicita el crédito para comprar ureas, abonos y pagar jornales de los trabajos. Su meta es construir unos invernaderos. Los desafíos que enfrentan son que en tiempo de cosechas los precios se ponen muy bajos. Gregorio manifiesta que en su comunidad celebran a San Francisco y cuando no hay mucho trabajo salen a pasear
About Cooperativa San JoseThis loan is administered by Cooperativa San Jose, a 45,000-member credit union located high in the Andes Mountains of Ecuador’s poorest province, Bolivar. They offer a unique loan called “Ventanillas Rurales” [Window to the Countryside], which uses a group guarantee but is an individual loan with a savings component, mostly to rural borrowers. Due to low savings rates and a history of macroeconomic instability, many traditional loans in Ecuador demand interest rates that are prohibitively high for some borrowers. There is also a high incidence of extortionist black-market lending in Ecuador. CSJ helps mitigate these problems by providing a less onerous and more appropriate option. Join CSJ’s Lending Team!
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