Omar Santiago is a 32 year old entrepreneur. He is married and lives with his wife and 2 children (8 and 9 years old) in Guayaquil, in an area called Orquídeas (an urban area named after the many orchids that existed when the place was discovered).
Omar Santiago makes duplicate keys. He first worked for another person in the same business. When he realized the activity of duplicating keys is very profitable, he used some capital and started his own business.
He works alone from 7:00am-13:00pm and from 15:00pm-18:00pm while his wife takes care of the house and the children. He plans to use his $1,000 loan to buy materials and to make some improvements to his store.
He hopes his children continue with their studies and become professionals.
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.