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Calle 1 De Enero (Portoviejo) Group
In this Group: Nora Alma, María Fernanda, Mariela Monserrate, Miryan Jessenia*, Ivonni Del Pilar, Genny Elizabeth, Cruz Esperanza, María Fernanda, Yuly Elizabeth, Diana Monserrate, Juana Maricela, Mercedes Nativa, Jahaira Consuelo, Margarita Magdalena, María Esther, Virginia Del Rocío, José Wilfrido, Yolanda Elizabeth
* not pictured
The “Calle 1 de Enero” communal bank meets every two weeks in Montecristi Canton (Portoviejo) known for its rich pre-colonial culture and for its crafts that are well known both nationally and internationally; it’s where the famous straw hats come from.

This is a group of people who decided years ago to join together and form this communal bank which has been very useful for them since they’ve been able to improve their businesses thanks to the loans. They carry out a variety of activities like general commerce and services, among others.

We met Nora, 43, here. She’s married and has two daughters who are 12 and 9 years old. The oldest is in secondary school and the youngest in elementary school. Her husband works in a cabinet shop.

She’s a great housewife who set up a small home-based hardware store years ago to earn her own income. She sells hardware supplies especially those used in furniture manufacturing. She sells merchandise to some local cabinet making shops in her area. She works Monday through Saturday from 8am until 6pm. She also sells large jugs of bottled water and certain snacks.

This loan is to buy hinges, nails, paint, jugs of bottled water and other hardware supplies that she sells in her store. She’s been in the communal bank since its beginning and she likes it because of the benefits the institution provides. Her dream is to have a large hardware supply center.
View original language description ↓
EL Banco Comunal Calle 1 de Enero se reúne cada 15 días en el Cantón Montecristi (Portoviejo), 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 desde hace algunos años decidieron unirse y formar este Banco Comunal que les ha servido de mucho, ya que con los créditos han podido mejorar sus negocios. Ellos se dedican a diversas actividades tales como comercio en general, servicios, entre otras actividades.

En este lugar conocimos a la señora Nora, tiene 43 años de edad, está casada y de esta relación tienen dos hijas de 12 y 9 años, la mayor estudia en colegio y la menor en escuela. Su esposo trabaja en un taller de ebanistería.

Ella es una gran ama de casa que para generar sus propios ingresos hace dos años atrás instalo un pequeño negocio en su casa, en el cual vende materiales de ferretería, en especial los utilizados en la elaboración de muebles, ella entrega sus productos a algunos talleres de ebanistería de la localidad, trabaja de lunes a sábado desde las 8h00 hasta las 18h00, además también allí mismo vende bidones de agua y ciertas golosinas.

Ester crédito es para comprar bisagras, clavos, pinturas, bidones de agua y otros materiales de ferretería que vende en su local. Esta desde el inicio en el Banco Comunal y le gusta por los beneficios que le brinda la institución.

Su sueño es tener un gran centro ferretero.

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
  • 65
    View loans »
    Ecuador Loans Fundraising
  • $23,510,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Calle 1 De Enero (Portoviejo) Group's $4,475 loan helped a member to buy hinges, nails, paint, water jugs and other hardware supplies.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 20, 2011
Listed
Oct 25, 2011
Currency Exchange Loss:
N/A
Ended:
Mar 15, 2012