Eduardo is 59 years old and married. He lives in a suburb of Guayaquil. His adult children have married and moved out, but Eduardo takes care of one grandchild. Twenty-one years ago, Eduardo’s wife encouraged him to start his own business renting out washing machines. Currently, Eduardo rents washing machines by the hour to his neighbors and other people who need this service. Apart from this business, he also raises and sells chickens. Eduardo’s wife mainly takes care of the house but occasionally she helps in the business as well.
Eduardo has requested a loan of $1,000 USD to buy chickens and chicken feed. His goal is to expand both of his businesses and buy two more washing machines. Eduardo hopes that in the future his family will help him with his businesses.
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.