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El Sol Naciente  (Cuenca) Group
In this Group: Ladia Violeta, Laura Luz, María Esperanza, Sandra María, Mayra Alexandra, Martha Beatriz, Lucila Luciana*, Maribel Del Pilar, Elourdes Maribel
* not pictured
El Sol Naciente (The Rising Sun) is a communal bank made up of 9 members who, with their work, help to improve the economic situation of their households and move their families ahead. They live in different places in the city of Cuenca. It has a cold climate, but the warmth of its people is very welcoming to all who visit. This city is a mix of the colonial and the modern. Its people still keep alive the flame of its culture and the traditions of its peoples. Its gastronomy is quite varied, which captivates its visitors' palates.

One of the members of this group is Maribel del Pilar. This is her first loan in the communal bank, to which she was invited by a niece. She lives in the Feria Libre sector of the city of Cuenca. She is 45 and is married, and in her conjugal union she has conceived 5 children aged 11, 17, 18, 21, and 23. Her oldest, a son, is married and lives independently; her second, a son, works and helps her economically; her third, a son, is disabled and lives at home; her fourth, a daughter, attends a secondary school in the city; and her youngest, a daughter, attends a little primary school in the city. Her husband works as a security guard. They do not have their own house, so they rent.

Maribel del Pilar is a native of Ríos province. She has been living in the city for a year. She was invited to live in this city by her niece because of the opportunities for work. At the moment she is putting together everything to start her business, since she is going to sell food.

She is going to use the loan to purchase a cart, which is the only thing she needs to start her business.

Her goal is to grow in this business that she is going to start.
View original language description ↓
El Sol Naciente es un banco comunal que está formado por 9 socias quienes con su trabajo ayudan a mejorar la economía de sus hogares y sacan adelante a sus familias, viven en diferentes lugares de la ciudad de Cuenca, ciudad que es de clima frió pero el calor de su gente es muy acogedor para todos los que la visitan, esta ciudad es una mezcla de lo colonial y lo moderno, su gente aun mantiene viva la llama de su cultura y tradiciones de sus pueblos, su gastronomía es muy variada la cual cautiva el paladar de sus visitantes.

Una de las socias de este grupo es la Señora. Maribel del Pilar, es el primer crédito que realiza en el banco comunal al cual fue invitada por una sobrina. Vive por el sector de la Feria Libre en la ciudad de Cuenca, tiene 45 años, es casada y en su unión conyugal ha concebido 5 hijos de 23, 21, 18, 17 y 11 años de edad, su primer hijo es casado y vive independiente, su segundo hijo trabaja y le ayuda económicamente, su tercer hijo tiene una discapacidad y pasa en casa, su cuarta hija estudia en un colegio de la ciudad y su ultima hija estudia en una escuelita de la ciudad. Su esposo presta sus servicios como guardia de seguridad, no tienen casa propia por lo que viven arrendando.

La Señora Maribel del Pilar es oriunda de la provincia de los Ríos, se encuentra viviendo en la ciudad desde hace un año y fue invitada a vivir en esta ciudad por su sobrina por las oportunidades de trabajo, por el momento se encuentra armando todo para iniciar su negocio ya que se va a dedicar a la venta de comida.

Su crédito lo va a invertir en la compra de una carreta que es lo único que le hace falta para comenzar con su negocio.

Su meta es crecer en este negocio que va a iniciar.

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
  • 103
    View loans »
    Ecuador Loans Fundraising
  • $24,223,100
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of El Sol Naciente (Cuenca) Group's $3,600 loan helped a member to purchase a cart.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 17, 2012
Listed
Sep 11, 2012
Currency Exchange Loss:
N/A
Ended:
Mar 15, 2013