Total loan: $725
Portoviejo, Manabí Province, Ecuador / Food
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Carmen Elena's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To purchase quintals of rice.
Carmen Elena's story
The communal bank Mujeres Unidas [United Women] meets in the residential area of San Alejo in the gorgeous city of Portoviejo, capital of the province of Manabi, known for the beautiful beaches that run along its entire coastal region which are very popular with both domestic and international tourists. For Carmen this is her second loan cycle in this Bank. She tells us that she was with another bank a long time ago but decided to withdraw because of the poor organization there. On the other hand, she likes this one because it is very well-organized and the members are highly supportive of one other. She is 47 years old and became a widow 17 years ago when she was pregnant with the last of her five children, three of whom still live with her. She sells rice by the quintal (approx. 100 lbs ~ 46 kg) and other products which she delivers on credit and for which she receives weekly or biweekly payments. As she sells products of large-scale consumption she has many customers, who buy from her on account of the favorable payment arrangements. She wins because, by delivering on credit, if the price goes up a little she earns more and the customers win because they have time to pay in convenient installments. She brings her merchandise in from Charapoto. She will use this credit to pay for this month's order. Her dream is become a large distributor.