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Maria Magdalena
Maria, age 62, started selling rice four years ago. Little by little she became a small businesswoman. Because of the dedication that she put into her work and the money that gave her a stable life, she started to buy “quintales” (a quintal is equal to 100 pounds) of rice. She then sold the rice to her new customers.

She now sells 40 to 50 quintales per month. One of her daughters, a widow, helps her in the business. One of the difficulties in buying rice from the retailers is the high price that they set. However, she keeps working in order to continue to make sure that she is secure in her old age.

She wants the loan to buy quintales of rice and to have more work capital. In the future she wants to finish building her house. She also wants to continue with her rice selling business in order to increase her list of customers.
View original language description ↓
Maria de 62 años, comenzó hace cuatro años a vender arroz poco a poco se fue convirtiendo en una microempresaria Por la dedicación que puso al trabajo y el dinero que le daba el seguro de vida comenzó a comprar quintales de arroz y venderlo a sus nuevos clientes.

En la actualidad vende mensual de 40 a 50 quintales. Una de sus hijas le ayuda en el negocio ya que ella es viuda. Una de las dificultades de comprar el arroz a los revendedores es el alto precio que le ponen. Pero ella continua trabajando para seguir asegurando su vejez por eso quiere el préstamo para comprar quintales de arroz y tener mayor capital de trabajo.

En el futuro quiere terminar de construir su casa y seguir con el negocio de venta de arroz para incrementar su cartera de clientes.

Additional Information

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.

About Ecuador

  • $10,200
    Average annual income
  • 33
    View loans »
    Ecuador Loans Fundraising
  • $23,448,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Maria Magdalena rice.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2011
Listed
Jan 31, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 15, 2012