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9 De Octubre (Cuenca) Group
In this Group: Dolores, Isabel Fernanda, Rosa Ana, María Mercedes, Nancy Fabiola, Juan Luis
The communal bank "9 de Octubre" [October 9th] is made of 5 women and one man who work in different activities. They allow each other to contribute to and improve their home finances. They live by the Nulti church, located to the northeast of the city of Cuenca. This church has conserved its rural identity both in architecture and in the traditions and festivities. Sites where you can observe archeological remains exist.

One of the members of this group is Dolores. She is 53 years old. She is divorced, and has 4 children from her married time. Two are married and live independently. Her third daughter is 21 years old, single, works, and helps out with the finances. Her last child is 10 years old, and he studies in a city school. The house that she lives in is her own property.

Dolores is a newspaper salesperson. She has done this activity for 10 years. She works every day of the week from 6 in the morning to 11 in the morning. At home, she raises and sells chickens, guinea pigs, and pigs.

This is her first loan that she is getting through the communal bank. She is going to invest it in the purchase of construction materials to complete her house.

Her goal is to finish her house and grow in her business.
View original language description ↓
El banco comunal 9 de Octubre está formado por 5 socias y un socio quienes laboran en diferentes actividades las mismas que les permiten aportar y mejorar la economía de sus hogares. Viven por la parroquia de Nulti ubicada al noreste de la ciudad de Cuenca, esta parroquia ha conservado su identidad rural tanto en la arquitectura como en las tradiciones y festividades. Existen sitios donde se pueden observar vestigios arqueológicos.

Una de las socias de este grupo es la Señora. Dolores, tiene 53 años, es divorciada y en su unión conyugal ha concebido 4 hijos, dos son casados y viven independientes, su tercera hija tiene 21 años de edad, es soltera, trabaja y ayuda económicamente y su último hijo tiene 10 años y estudia en una escuelita de la ciudad. La casa en la que vive es de su propiedad.

Doña Dolores es comerciante de periódico, actividad que la desempeña hace 10 años y trabaja de domingo a domingo desde las 6 de la mañana hasta las 11 de la mañana. En su casa se dedica a la cría y venta de gallinas, cuyes y cerdos.

Este es su primer crédito que realiza en el banco comunal y lo va a invertir en la compra de materiales de construcción para acabar su casa.

Su meta es terminar su casa y crecer en su negocio.

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 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
  • 44
    View loans »
    Ecuador Loans Fundraising
  • $23,087,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of 9 De Octubre (Cuenca) Group's $2,000 loan helped a member buy construction materials.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 10, 2012
Listed
Jan 21, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 15, 2012