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Vicente Fernando
Vincente lives in Playas, a coastal area known for its tourism. He tells us that in spite of the great progress made in recent years from tourism, Playas still lacks economic development. For example, he tells us that in spite of having his own house made of cement with water and electrical utilities, there is no sewer and the roads are not paved. In spite of this, he has been working as a baker for 21 years. He started this work in his uncle's neighborhood that had a bakery; they hired him to help with production and sales. He is grateful for this training, because now this is the way he earns his living and supports his family. He now has a store in his house where he works each day from 7am until 9 at night. Vincente tells us that when he started the business it was very profitable, because the products he made were very economical. Now with the increase in prices it is less profitable. Therefore, he focuses on numbers: the more he produces and sells, the greater his earnings. He is hoping to obtain a loan so that he can buy raw materials to make the bread which will help his business, allowing him to hire an assistant in the near future. His wife is a licensed and works for a company. They have 3 children who are enrolled in the public school.
View original language description ↓
Vicente vive en Playas zona costera conocida por el turismo. El nos da a conocer que a pesar del gran avance que a tenido en los últimos años del turismo a Playas le faltan mucha obras, como ejemplo nos comenta que a pesar de tener su casa propia de cemento solo cuenta con agua y luz pero les falta alcantarillado y camino pavimentado. A pesar de esto el tiene 21 años ejerciendo la labor de panadero. Empezó esta actividad en el sector de su tío quien tenía una panadería y lo contrato para que lo ayudara en la producción y venta. Le agradece las enseñanzas ya que esta es su forma de vida la cual le ayuda a mantener su familia. Ahora tiene un local en su domicilio donde trabaja solo de lunes a domingos desde las 7 de la mañana hasta las 9 de la noche. Vicente nos cuenta que cuando inicio el negocio era muy rentable ya que los productos para su elaboración eran económicos, ahora con el alza de precios es menos rentable por eso se concentra en el numero, entre mas produce más vende y mejoran sus ganancias. Espera obtener el crédito para comprar materia prima para la elaboración de los panes mejorando su negocio y contratar a un ayudante en un futuro próximo. Su esposa es licencia y trabaja en una empresa, tiene 3 hijos que estudian en la escuela fiscal.

Additional Information

About Banco D-MIRO

Banco D-MIRO is a microfinance institution that serves the most vulnerable sectors of Ecuador’s economy. It offers very small loan sizes without requiring collateral, expanding access to borrowers who would not otherwise be able to access capital to start and grow their own businesses. It also specifically targets borrowers who are excluded from formal financial systems due to race, ethnicity, gender, disability or illness.

About Ecuador

  • $10,200
    Average annual income
  • 59
    View loans »
    Ecuador Loans Fundraising
  • $23,549,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,275 helped Vicente Fernando to buy flour and yeast.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 5, 2012
Listed
Jun 6, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 18, 2013