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Señor De Los Milagros  (Portoviejo) Group
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
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.
View original language description ↓
La señora Edit Magdalena es parte de las 14 socias que forman el Banco Comunal El Señor De Los Milagros que se reúne cada quince días en la parroquia Picoaza de la ciudad de Portoviejo, ella tiene 51 años de edad, está casada y de esta relación tiene cuatro hijos todos mayores de edad y aun viven con ella, la menor estudia en Universidad. Su marido es comerciante. Ella nos cuenta que los miembros de este grupo se dedican a diversas actividades tales como comercio en general, prestación de servicios entre otras actividades.

Nuestra amiga para obtener sus propios recursos y con estos poder ayudar a su hija con los gastos de su educación se dedica a la venta de productos Yanbal (artículos de belleza, cosméticos perfumería y accesorios para damas). Su forma de venta es puerta a puerta, nos comenta que tres días de la semana sale a ofrecer sus productos por toda su localidad, también su hija le ayuda con sus ventas pues ella vende en la universidad donde estudia, ella deja sus productos a crédito y cobra semanalmente. Tiene más de seis años que se dedica a esta actividad y le va muy bien. Lo que más vende son los perfumes, además dice que ella aprovecha cuando hay ofertas ya que allí compra más barato y esto después los vende al precio normal con lo cual le queda más ganancias.

Este crédito lo va emplear en comprar perfumes, cosméticos, cremas y bisutería sobre todo los productos de oferta. Esta desde el inicio en el Banco Comunal y le gusta porque los créditos le permiten comprar sus productos y así ganarse la vida honradamente.

Su sueño es ver que su hija termine sus estudios y sea una gran profesional.

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
  • 16
    View loans »
    Ecuador Loans Fundraising
  • $22,837,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Señor De Los Milagros (Portoviejo) Group's $6,350 loan helped a member to buy perfumes, creams, cosmetics and costume jewelry.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 2, 2012
Listed
Aug 2, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 15, 2012