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Monserrate (Montecristi) Group
In this Group: Estrella Del Carmen, Mayra Alejandra, Augusta Elizabeth, María Belén, Paola Janneth, Cindy Marisela, Mercedes Lucia, Galinda Ines, Laura Beatriz, Lauro Eudoro, Carlos Victor, Susana Magdalena, María Veronica
The communal bank "Monserrate" meets every two weeks in the city of Montecristi, known for its rich pre-colonial culture and crafts that are renowned both nationally and internationally. It is the place of the famous Panama straw hat.

This group of people decided to get together three cycles ago and set up the communal bank which has helped them greatly. With the loans they have received they have improved their small business and lifestyles. They are involved in different businesses such as agriculture, general commerce, services and other activities.

One of the members of the group is Mr. Carlos, 48, who is married and has five children, four adults and a minor son who is 17 and in school. All of his children live at home. His wife is a homemaker.

He works for a compny in the city of Manta, but is also a merchant and in his free time sells all kinds of clothing, sheets and comforters. In the evenings he goes out to visit his customers to sell his products which he leaves on credit and then collects in two payments. He collects payment on the weekends. He buys merchandise in Guayaquil when necessary. He has been in business for six years and it is going well for him.

This loan will be used to buy trousers, shirts, blouses, children's clothing, sheets and comforters. This is his third cycle with the communal bank and he enjoys the benefits offered by the institution.

His dream is to buy a car.
View original language description ↓
EL Banco Comunal Monserrate se reúne cada quince días en la ciudad de 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 decidieron unirse hace tres ciclos y formar este Grupo De Crédito que les ha servido de mucho ya que con los créditos, ellos han mejorado sus pequeños negocios y su vida. Ellos se dedican a diversas actividades tales como agricultura, comercio en general, servicios, entre otras actividades.

Uno de los socios de este grupo es el señor Carlos, tiene 48 años de edad, está casado y de esta relación tienen cinco hijos, cuatro mayores y el menor de 17 años de edad el cual estudia en colegio, todos sus hijos viven en su casa. Su esposa es ama de casa.

El trabaja en una empresa en la ciudad de Manta, pero además de esto es comerciante, en sus tiempos libres se dedica a la venta de ropa de todo tipo, sabanas y edredones, nos cuenta que por las noches se va a visitar a sus clientes para venderles sus productos, les deja a crédito y cobra en dos partes, los cobros los realiza los fines de semana, su mercadería compra en Guayaquil cuando necesita. Lleva dedicado a esta labor 6 años y le va muy bien.

Este crédito es para comprar pantalones, camisas, blusas, ropa de niños, sabanas y e dredones. Este es su tercer ciclo en el Banco Comunal y le gusta por los beneficios que brinda la institución.

Su sueño es comprar 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

  • $10,200
    Average annual income
  • 58
    View loans »
    Ecuador Loans Fundraising
  • $23,551,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Monserrate (Montecristi) Group's $3,800 loan helped a member to buy trousers, shirts, blouses, children's clothing, sheets and comforters.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 26, 2011
Listed
Jan 11, 2012
Currency Exchange Loss:
N/A
Ended:
May 15, 2012