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1 De Mayo  (Cuenca) Group
In this Group: Karina Alexandra, Reynelia Leonor, Luisa Elizabeth, María Robertina, María Teresa, María Josefina*, Juliana , Norma Isabel
* not pictured
1 de Mayo, or First of May, is a communal bank that is made up of 8 women that live near the parish Cumbe in Cuenca, a place that is characterized by its landscape due to it's accidental geography. It has a cold climate and its center mixed between modern and ancient architecture. Its people maintain their culture and traditions still being its greatest pride. Its people are in livestock, agriculture, business and many go out into the city daily to exercise different economic activities or have migrated in search of better economic stability for their families. Our members are women that see in their daily work the opportunity in succeed for their families. They are charismatic and of warm hearts.

One of the members of this group is Norma. She invested in the communal bank 1 de Mayo, accepting the invitation from her sister-in-law who had been part of the group for some time. She is very young, only 23 years old. She is married and has a 3 year-old daughter. Her husband works daily as a private employee. She does not have her own house and lives with her in-laws with whom she shares the household expenses.

She is a professional seamstress. She learned this trade studying in an academy and now it is her way of life. She works from Monday to Friday from 8 in the morning to 5 in the afternoon doing all kinds of stitching. Also, in her home she raises guinea pigs.

Her loan will go towards investing in a down payment to buy herself a sewing machine.

Her goal is to have a larger seamstress shop.
View original language description ↓
1 de Mayo es un banco comunal que esta conformado por 8 mujeres que viven por los alrededores de la parroquia Cumbe en Cuenca, lugar que se caracteriza por sus paisajes gracias a su geografía accidenta, tiene un clima frió, su centro se mezcla entre la arquitectura moderna y la antigua. Su gente mantiene aun su cultura y tradiciones siendo su mayor orgullo, se dedican a la cría de animales, a la agricultura, al comercio y muchos salen diariamente a la ciudad a ejercer diferentes actividades económicas o han migrado en busca de una mejor estabilidad económica para sus familias. Nuestras socias son mujeres que ven en su trabajo diario la oportunidad de sacar adelante a sus familias, son carismáticas y de un corazón cálido.

Una de las socias de este grupo es la Sra. Norma, se encuentra ingresando al banco comunal 1 de Mayo, aceptando la invitación de su cuñada quien forma parte del grupo hace algún tiempo, es muy joven tiene 23 años de edad, es casada y fruto de su unión conyugal ha procreado una hija que tiene 3 años de edad, su esposo labora diariamente como empleado privado, no tiene casa propia y vive en casa de sus suegros con quienes comparte los gastos de la casa.

Ella es de profesión costurera aprendió esta actividad estudiando en una academia y ahora es su forma de vida, trabaja de lunes a viernes desde las 8 de la mañana hasta las 5 de la tarde realizando toda clase de costuras. También en su casa se dedica a la cría de cuyes.

Su crédito lo va a invertir para el pago de una cuota de entrada para comprarse una máquina de coser.

Su meta es tener un taller de costura más grande.



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
  • 14
    View loans »
    Ecuador Loans Fundraising
  • $22,544,250
    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 $3,900 loan helped a member to pay the payment for a sewing machine.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2012
Listed
Oct 3, 2012
Currency Exchange Loss:
N/A
Ended:
Mar 15, 2013