100%

funded

Total loan: $5,375

Amigos Por Siempre Calle Chimborazo (Montecristi) Group

Montecristi, Manabí Province, Ecuador / Retail

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A loan helped to buy clothes and Yanbal brand cosmetics.


Amigos Por Siempre Calle Chimborazo (Montecristi) Group's story

The “Amigos Por Siempre Calle Chimborazo” (Chimborazo Street Friends Forever) communal bank has 12 female and 2 male members. It meets every fifteen days in Montecristi known for its rich pre-colonial culture and for its crafts that are renown both nationally and internationally; it’s where the famous straw hats are from. This is a group of very humble, hardworking people who when they learned about the benefits available from the institution decided to join together and form this group to improve the businesses they have. They carry out a variety of activities like crafts and general commerce, among others. One of the members of this group is Ruth, 51. She’s separated and has four children, three who are already adults and a 17-year-old who is attending university. In addition to being a great mother, in order to get ahead she sells Yanbal products (beauty products and perfumery) and all types of clothes. She sells door to door and works every afternoon. She sells most of her products based on prior customer orders. What she sells most is perfume and women’s clothes. She buys the clothes every two weeks in Guayaquil and in Quito as needed. She’s been in business three years and is able to support her family with profits earned. She will use this loan to buy clothes and Yanbal brand cosmetics because she has several pending orders. She’s been in the communal bank for two cycles and likes it because the loans help her in her business very much. Her dream is that her son becomes a professional.