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Santo Domingo (Portoviejo) Group
In this Group: María Eugenia, Rosaly Isabel , Lourdes Monserrate, Jahaira Elizabeth, María Elena, Luisa Elizabeth, Clara, Rafael Vinicio, Letty Guadalupe, Ana Patricia, Angela Piedad, Cesar Alfonso, Miriam Madeline
The “Santo Domingo” communal bank meets every two weeks in the outskirts of Junín Canton. This city is known for its kind, hard working people and because it’s here that the province’s and Ecuador’s best aguardiente (alcoholic spirits) is distilled.

This is a group of people that decided to join together and form this communal bank which is very useful for them because they can improve their small businesses with the loans. They are in a variety of activities like commerce, services and food sales, among other activities.

We met Letty, 33, here. She’s in a common law relationship and has two children who are 14 and 12 years of age and in school. Her husband’s a merchant. She is studying Nursing. She’s in the 6th year at university but she only attends Saturdays and Sundays.

In addition to her studies, she’s also in commerce. She sells all types of clothes door to door and takes advantage of the weekends to sell to her classmates and acquaintances. Three days a week she also sells throughout the city especially during the morning when her children are in school. In the afternoons she cares for her children. She tells us that she’s had the business for a year and plans to use this loan to go to Guayaquil to buy more merchandise. She is going to use this loan to buy pants, blouses, t-shirts and children’s clothes. This is her first cycle in the communal bank and she likes the ease with which loans are obtained.

Her dreams are seeing her children complete their schooling and become good professionals.
View original language description ↓
EL Banco Comunal Santo Domingo se reúne cada quince días en las afueras del cantón Junín, esta ciudad se la conoce por su gente amable y trabajadora y porque en este lugar se destila el mejor aguardiente en la provincia y en el Ecuador.

Este es un grupo de personas que decidieron unirse y formar este Banco Comunal que les sirve de mucho ya que con los créditos ellos pueden mejorar sus pequeños negocios. Se dedican a diversas actividades tales como comercio, servicios, venta de comidas entre otras actividades.

En este lugar conocimos a la señora Letty, tiene 33 años de edad y mantiene una relación de unión libre de la cual tiene dos hijos de 14 y 12 años los mismos que estudian en colegio. El marido es comerciante. Ella estudia enfermería, está en el sexto año de la Universidad pero solo los sabados y domingos.

Además de sus estudios ella se dedica al comercio, vende ropa de todo tipo, su forma de ventas es puerta a puerta y aprovecha los fines de semana para vender en la universidad a sus compañeras y conocidas. También vende por toda la ciudad tres días a la semana más que todo en las mañanas ya que a esa hora sus hijos están en clases, en las tardes se dedica al cuidado de sus hijos. Nos cuenta que lleva un año con este negocio, con este crédito piensa ir a Guayaquil a comprar más mercadería.

Este crédito lo va emplear en comprar pantalones, blusas, camisetas, y ropa de niños. Este es su primer ciclo en el Banco Comunal y le gusta la facilidad para conseguir los créditos.

Sus sueños es ver que sus hijos terminen sus estudios y sean buenos profesionales.

Additional Information

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Ecuador

  • $10,200
    Average annual income
  • 35
    View loans »
    Ecuador Loans Fundraising
  • $23,451,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Santo Domingo (Portoviejo) Group's $3,975 loan helped a member to buy pants, t-shirts, blouses and children's clothes.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2011
Listed
Jul 6, 2011
Currency Exchange Loss:
N/A
Ended:
Jul 15, 2012