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Manuel
This is Manuel's first loan from both Fundación Alternativa and from Kiva. He will use the loan to buy building materials for the construction of his home. Manuel is a true beneficiary of micro-credit. He says that "because of their social condition, in the past his family wasn't able to apply for credit from traditional banks" and was therefore unable to improve their standard of living. He's extremely glad to be taking out his first loan from Fundación Alternativa and Kiva, and plans to repay his loan so that he can establish a good credit history and have access to larger amounts in the future.

Manuel lives and works in San Francisco de Quito, the capital city of Ecuador. Most commonly called Quito, the city is also known as “The Light of America” because it was the site of the first uprising against the Spanish and as the “Middle of the World,” because it straddles the equator. Quito is famous for the nearby active volcano Pichincha, its soaring altitude of 9,200 feet, and its beautiful downtown historical district, declared the first UNESCO Heritage Site in 1978.

Manuel is a hard-working 40-year-old entrepreneur. He lives with his two daughters and wife Maria (his younger daughter is in the above photo). For two years, Manuel has sold scrap-metal for a living. The entire family helps out with Manuel's scrap-metal business. He and Maria both are engaged in the work and occasionally his daughters help him with pick-ups. He's extremely busy in Quito, working 8 hours a day, Monday through Friday, and gathering the many disposable items that people leave on the street. He learned the business of selling scrap metal from former co-workers when he was a docksman (longshoreman).

Additional Information

About Fundación Alternativa

Fundación Alternativa encourages entrepreneurship and provides sustainable financial and non-financial services that promote social and economic development in Ecuador. The organization focuses on serving poor and excluded populations through analysis of clients' living conditions and by providing business training and other support services in urban, rural and marginalized parts of the country.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Ecuador

  • $10,200
    Average annual income
  • 50
    View loans »
    Ecuador Loans Fundraising
  • $23,491,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Manuel to buy construction materials to build his home.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 27, 2011
Listed
Aug 10, 2011
Currency Exchange Loss:
N/A
Ended:
Aug 15, 2012