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Monserrate  (Montecristi) Group
In this Group: Estrella Del Carmen, Liliana Johanna, Adela Katherine*, Alexandra Janeth, Briggitte Elizabeth, Sara Natividad, Diana Gabriela, Augusta Elizabeth, Genessis Gabriela, Laura Beatriz, Victor Raul, Carlos Julio, Karten Jeovanna*, Katherine Stefania, Glendys Elvira
* not pictured
Monserrate Communal Bank meets every fifteen days in Montecristi Cantón, known for its rich precolonial history and nationally and internationally recognized handcrafts. It's the home of the famous Panama hats.

This is a group of thirteen women and twelve men that a while back decided to get together and start up this communal bank. The bank helps them a lot because with the loans they've been able to improve their small businesses and their quality of life; they are unassuming people who live off the little they earn from their businesses. They engage in a variety of activities like sales, service, food sales, etc.

Victor, forty-nine, lives here. He's married and has three older children who are in college, which costs a lot. His wife is a teacher.

To earn his daily bread and get his family ahead, Victor has been working for many years buying and selling construction materials such as cement, bricks, sand, stone, etc. He takes his car to buy from distributors and then deliver products to his clients at their work sites. This way he makes money from the purchase and sale as well as the transport of the goods. He has quite a few clients that continually ask him to bring materials because he always gets it done and gets it done on time. That's how he makes a living for the family.

Victor plans to use this loan to buy more construction materials. This is his first loan cycle with the communal bank and he likes it because it's easy to get a loan.

Victor's dream is to see his children finish school and become good professionals.
View original language description ↓
EL Banco Comunal Monserrate se reúne cada quince días en Cantón Montecristi, conocido por su rica cultura pre colonial y por su artesanía que es reconocida a nivel nacional e internacional. Lugar de los famosos sombreros de paja toquilla.

Este es un grupo de 13 mujeres y 2 hombres que decidieron unirse tiempo atrás y formar este Banco Comunal que les ayudado mucho ya que con los créditos, ellos han podido mejorar sus pequeños negocios y su calidad de vida ya que son gente muy humilde que vive de lo poco que ganan en sus actividades. Se dedican a diversas actividades tales como comercio, servicios, venta de comidas entre otras actividades.

En este lugar vive el señor Víctor, tiene 49 años de edad, está casado y de esta relación tiene tres hijos los mismos que ya son mayores de edad y estudian en la universidad por lo cual representan muchos gastos. La esposa es maestra.

Don Víctor para ganar el sustento diario y con esto sacar adelante a su familia se dedica desde muchos años atrás a la compra y venta de material de construcción, vende cemento, ladrillos, arena, piedra, entre otras cosas, él en su carro compra en las distribuidoras y luego les lleva a sus clientes hasta la obras donde ellos laboran con esto él se gana por la compra y venta y también por el transporte, tiene muchos clientes que siempre le piden que les lleve el material y esto es porque el siempre les cumple y a tiempo, es así como gana el sustento de su familia a punta de su trabajo.

Este crédito lo va emplear en comprar más materiales de construcción. Este es su primer ciclo en el Banco Comunal y le gusta por la facilidad para conseguir los créditos.

Sus sueños es ver que sus hijos terminen sus estudios y sean buenos profesionales.

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
  • $22,607,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Monserrate (Montecristi) Group's $5,575 loan helped a member to buy construction materials.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 22, 2013
Listed
May 1, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013