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Algarrobos (Portoviejo) Group
In this Group: Beatriz Alexandra, Nasteria Monserrate*, Norma Agustina, Jenny Del Rocio, Mariana Elizabeth, Dolores Matilde, Belinda Marisol, Gloria Esther, Yessika Lorena, Gabriela Margarita, José Luis, Grecia Liseth*, Eulalia Emperatriz, Miriam Alexandra, Celia Margarita, Rosa Janeth, Karen Alexandra
* not pictured
The communal bank "Los Algarrobos" meets every 15 days in Los Bajos in the canton of Montecristi. This area is known for its rich pre-colonial culture and its handicrafts, which are known at the national and international level, because this is the place where the famous Panama hats are made.

This is a group of people who sometime ago decided to unite and form this communal bank. This served them well, because with the loans, they have been able to increase their standard of living and help finance their businesses. Most of the members of this bank work in handicrafts, livestock, food production, and general retail trade.

One of the members of this group is Karen, 33, who is married and has 3 children aged 11,10 and 5. Her children are in school and her husband is a merchant.

Our friend works in the municipality of Montecristi, and is taking the loan to use in her husband's business. He sells fruit smoothies, grilled chicken wings and meat kebabs. He sells these items from Monday through Thursday, because on the weekends he also sells snacks. He has had this business for 6 months and everything he prepares sells very well.

This loan will be used to buy 1 table, 6 chairs and vegetables to use in preparing the food. This is Karen's 3rd loan cycle in the communal bank, and she likes it because the payments are easy to make.

She dreams of having a car.
View original language description ↓
EL Banco Comunal Los Algarrobos se reúne cada quince días en Los Bajos del Cantón Montecristi, conocido por su rica cultura pre colonial y por su artesanía que es reconocida a nivel nacional e internacional. Lugar de los famosos sombreros de paja toquilla.

Este es un grupo de personas que hace un tiempo atrás decidieron unirse y formar este Banco Comunal que les sirve de mucho ya que con los créditos han podido mejorar el nivel de vida y ayudarse a financiar sus negocios, la mayoría de las personas que integran este banco se dedican a realizar trabajos de artesanía, cría de animales, venta de comida y comercio en general.

Una de las integrantes del grupo es la señora Karen, tiene 33 años de edad, está casada y de esta relación tienen tres hijos de 11, 10 y 5 años de edad que estudian en escuela. Su esposo es comerciante.

Nuestra amiga trabaja en el Municipio en Montecristi y realiza el crédito para el negocio del esposo el mismo que se dedica a la venta de batidos de frutas, alitas azadas y chuzos (carne en palito), esto lo realiza de lunes a jueves ya que los fines de semana también vende meriendas, lleva en este negocio seis meses y todo lo que prepara lo vende muy bien.

Este crédito es para comprar 1 mesa, 6 sillas y víveres para preparar los alimentos. Este es el tercer ciclo en el Banco Comunal y le gusta porque los pagos son fáciles de hacer.

Sus sueños son tener un carro.

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

  • $10,600
    Average annual income
  • 57
    View loans »
    Ecuador Loans Fundraising
  • $24,312,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Algarrobos (Portoviejo) Group's $4,875 loan helped a member to buy a table, 6 chairs and vegetables.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 29, 2011
Listed
Aug 7, 2011
Currency Exchange Loss:
N/A
Ended:
Dec 15, 2011