Total loan: $1,500

Monte Rico Community-Owned Bank

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Monte Rico, Panamá, Panama / Agriculture

Monte Rico Community-Owned Bank's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!

A loan helped to provide working capital to the entrepreneurial farming members of the community-owned bank.

Monte Rico Community-Owned Bank's story

Monte Rico is a small, rural, and remote indigenous community that is mostly made up of farmers. The main products cultivated by the farmers in this community are rice, corn, plantains, cocoyam, and cassava.

The Monte Rico Community-Owned Bank is a small, indigenous, female-led financial institution that provides the members of the community with the ability to have savings, take out small loans, and attain financial literacy.

Many members of this community are financially excluded from more traditional financial institutions, but the Community-Owned Bank provides these members with a chance at financial inclusion in their own community. The members are very committed to the growth of the rural bank since it has given them the opportunity to improve their quality of life.

Today, the Monte Rico Community-Owned Bank is applying for its first Kiva loan to access working capital so that 5 of their members can buy seeds and invest in their crops. By giving a loan to this bank, you are providing access to financial services and creating jobs during the crucial cocoyam and plantain planting season.

Thank you for contributing to the financial resilience of community-owned banks in indigenous communities that have been historically excluded from basic financial services.

In the photo: Gladys, Griselda, Crisanta and Briceida, all leaders of Monte Rico Community-Owned Bank.