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1 De Mayo  (Cuenca) Group
In this Group: Karina Alexandra, María Elizabeth, Luisa Elizabeth, María Rebertina, María Teresa, Juliana, Walter Mauricio*
* not pictured
The communal bank "1 de Mayo" is made up of 6 female members and one male member who live in Cumbe parish, which is found in the southern part of the city of Cuenca. In the surrounding area, large pastures belonging to livestock ranches are found; some are old haciendas and others are modern constructions. The people belonging to the communal bank work raising animals, in agriculture, and in business. The female members are women who work in different economic activities, the very ones that allow them to improve their household finances. These women uphold the culture and traditions of their towns.

One of the female members of this group is Karina, who is 23 years old. She is married and has a 4-year-old daughter with her husband. Her husband works in construction as a mason. They don't have their own house so they live with her mother, but in an independent manner.

Karina has been working in business for 5 years. She sells all kinds of clothing on market days. She has also had a food store for 2 years, where she works from Sunday to Sunday from 6 in the morning to 10 at night.

The communal bank finds itself in its second loan cycle, and she will invest the new loan in buying products which are basic necessities to supply her store. Her goal is to have her own house.

The small photograph is of a member who was unable to be present when the group photo was taken.
View original language description ↓
El banco comunal 1 de Mayo está formado por 6 socias y 1 socio quienes viven por la parroquia de Cumbe que se encuentra al sur de la ciudad de Cuenca. En su entorno se encuentran grandes pastos de fincas ganaderas, haciendas viejas unas y modernas construcciones. Su gente se dedica a la cría de animales, a la agricultura y al comercio. Las socias son mujeres que laboran en diferentes actividades económicas las mismas que les permiten mejorar la economía de sus hogares. Ellas mantienen la cultura y tradiciones de sus pueblos.

Una de las socias de este grupo es la Señora. Karina, tiene 23 años, es casada y en su unión conyugal ha concebido una hija de 4 años de edad. Su esposo labora en el área de la construcción como albañil, no tienen casa propia por lo que vive en casa de su mamá pero de manera independiente.

La Señora. Karina se dedica al comercio desde hace 5 años, vende ropa de todo tipo en los días de ferias. También tiene una tienda de comestibles hace 2 años, en la que trabaja de domingo a domingo desde las 6 de la mañana hasta las 10 de la noche.

En el banco comunal se encuentra en su segundo crédito y su nuevo crédito lo va a invertir compra de productos de primera necesidad para surtir su tienda.

Su meta es tener su casa propia.

La foto pequeña es de una socia que no pudo estar presente cuando se tomó la foto del grupo.


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
  • 94
    View loans »
    Ecuador Loans Fundraising
  • $24,193,350
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of 1 De Mayo (Cuenca) Group's $3,975 loan helped a member to buy products that are basic necessities.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 16, 2012
Listed
Mar 16, 2012
Currency Exchange Loss:
N/A
Ended:
Sep 15, 2012