A loan of $6,350 helped a member to buy perfumes, creams, cosmetics and costume jewelry.

Señor De Los Milagros (Portoviejo) Group's story

Edit Magdalena is one of the 14 members who form the communal bank El Señor de los Milagros which meets every fifteen days in the Picoaza Parish in the city of Portoviejo. She is 51, married and has four adult children who still live at home, with the youngest studying at the university. Her husband is a merchant. She tells us that the members of this group are involved in different activities such as general commerce and services.

In order to generate her own income and help pay for her daughter's education, our friend sells Yanbal products (beauty products, cosmetics, perfume and women's accessories). She goes door to door three days a week to offer her products throughout the town; and her daughter also helps with sales when she can, selling at the university where she studies. She delivers the products on a credit basis and collects payment weekly. For over six years she has been involved in this business and it is going well. Her best-selling product is perfume and she says she takes advantage of special offers to buy more economically and then sells at the normal price, to earn more profit.

She will use this loan to buy perfumes, cosmetics, creams and costume jewelry, especially products on offer. She has been a member of the communal bank since the beginning; and she likes it because the loans allow her to buy products and earn an honest living.

Her dream is for her daughter to finish her education and become a good professional.

In this group: Edit Magdalena, Elena Auxiliadora, Flor Magdalena, Esther María, María Isabel, Ana Noemi, María Asuncion, Melania Grismalda, Cruz Dolores, Geoconda Auxiliadora, Vilma Edith, Barbara Concepcion, Vicenta Andreina, Lady Alexandra

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Translated from Spanish by Kiva volunteer Sherry Bess

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