Zoila is 44 years old, married, and lives in the neighborhood of Chillanes in the Province of Bolivar with her husband and three children, whose names are Tatiana (21), Luz Angelica (16) and Fatima (9). Zoila is a member of the rural loan group “Santa Rosa de Agua Clara”, which is located two hours away from Chillanes. The group is composed of 15 members in total, most of whom have small shops.
Zoila sells assorted clothing. She purchases the items in Guayaquil and Ambato and sells them in the surroundings of Bucay. She is requesting this loan to increase her stock. Her desire is to have in her shop all her clients need and thus increase her income. She hopes everything will go well with her business to be able to help her mother and children.
On a typical day, she wakes up very early, makes coffee, sends her children to school, then prepares lunch ahead of time. At 9am she opens her business, and she works all day. Her husband is currently working abroad.
About Cooperativa San Jose
This 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!