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Innovación  (Cuenca) Group
In this Group: Grace Valeria, Cinthya Carolina, Ruth Alexandra, Jessica Paola, Mariana De Jesús, Eulalia Del Rocio, Ligia Verónica, Geovanna Gabriela, Rosa Beatriz
The “Innovación” (Innovation) communal bank consists of nine women living in the city of Cuenca, a city that enjoys beautiful scenery and a cold climate. Since December, 1999, it’s been a Cultural Heritage of Humanity thanks to the beauty of its architecture. This beautiful city is bathed by four rivers. Its residents are kind, gracious and cordial and strive daily to improve the economic situation at home; they work in various economic activities and still retain their culture and traditions.

One of this group’s members is Eulalia. This is the first loan she’s taking out with her friends and companions who form this group with the same goal: personal and family improvement.

Eulalia is 46-years-old, married and has conceived five children who are 28, 27, 21, 20 and 17 years of age. Her oldest son is married and lives independently, her second and fourth attend university, her third works and the last one attends secondary school in the city. Her husband works in his carpentry shop.

Eulalia’s a merchant. She sells all types of clothes and a great variety of cosmetics, an activity she’s been carrying out for 20 years. She has a shop of her own downtown and works Monday to Saturday with no fixed schedule. She will use the money to buy clothes and cosmetics for her customers. Her goal is to enlarge her business.
View original language description ↓
El grupo de crédito Innovación está formado por 9 mujeres quienes viven en la ciudad de Cuenca, ciudad que goza de bellos paisajes, es de un clima frió, es desde Diciembre de 1999 Patrimonio Cultural de la Humanidad gracias a la belleza de su arquitectura, tiene 4 ríos los que le bañan ha esta hermosa ciudad. Su gente es muy amable, gentil y cordial que luchan cada día para mejorar la situación económica de sus hogares, trabajan en diferentes actividades económicas y aun mantienen su cultura y tradiciones.

Una de las socias de este grupo es la Señora. Eulalia, este es su primer crédito que está realizando con sus amigas y compañeras quienes han formado este grupo con un mismo objetivo el cual es la superación personal y la familiar.

La Señora Eulalia tiene 46 años, es casada y fruto de su unión conyugal ha concebido 5 hijos de 28, 27, 21, 20 y 17 años de edad, su primer hijo es casado y vive independiente, su segundo y cuarto hijo estudian en la universidad, su tercer hijo trabaja y su último hijo estudia en un colegio de la ciudad. Su esposo labora en su carpintería.

Doña Eulalia se dedica al comercio, vende todo tipo de ropa y una gran variedad de cosméticos, actividad que la desempeña desde hace 20 años, tiene un local propio en el centro de la ciudad, trabaja de lunes a sábados sin un horario fijo.

El dinero va a invertir en la compra de ropa y cosméticos para su clientela.

Su meta es agrandar su negocio.

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.

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About Ecuador

  • $10,200
    Average annual income
  • 99
    View loans »
    Ecuador Loans Fundraising
  • $23,946,025
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Innovación (Cuenca) Group's $3,275 loan helped a member to buy clothes and cosmetics.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 24, 2013
Listed
Jul 11, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2014