Total loan: $800

Teresa Maricely

Rocafuerte, Manabí Province, Ecuador / Manufacturing

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A loan helped to buy iron rods, sheet metal, welding supplies, etc.

Teresa Maricely's story

The community bank Plazoleta Eloy Alfaro meets every two weeks in the town of 30 de Septiembre in the canton of Rocafuerte. This place is known for its delicious candies that are made by the locals and recognized throughout the country. In this place, we met Teresa. She is 35 years old, married, and has 3 children of 13, 11, and 8 years of age who are in school. Her husband is a locksmith. Our friend is taking out a loan for her husband's business which is a family business. They have a locksmith's workshop where they do a variety of metal work - they make windows, doors, roofs, enclosures, and other work. They work Monday to Saturday with the help of one person and when there is enough work there are two other people who they pay a weekly wage. They buy the materials for the work in Portoviejo and sometimes work without materials, doing only laboring. This loan is to buy materials such as iron rods, metal sheets, and welding supplies, amongst others. Teresa is a founding member of the community bank and she likes it because the loans are very important for their business' success. Her dream is to have a well supplied hardware shop.