Total loan: $4,750
Flavio Alfaro (Montecristi) Group
Montecristi, Manabí Province, Ecuador / Clothing
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Flavio Alfaro (Montecristi) Group's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to buy clothing.
Flavio Alfaro (Montecristi) Group's story
The Flavio Alfaro communal bank meets every two weeks in Montecristi, a town known for its rich precolonial culture, for its nationally and internationally famous handicrafts, and for its toquilla straw hats. The communal bank comprises 10 women and two men. They are modest, hardworking people who together decided to form this group when they heard about the benefits the institution offered that would help them get ahead. The members have a variety of activities such as making handicrafts and running businesses. Maryuri, 40, belongs to the group and is married. She and her husband have four children, ages 20, 18, 17, and13, who live at home, though two of them are in high school. Her husband is a cabinetmaker. Maryuri works hard at her business to help her husband support their family. She goes door-to-door selling many kinds of clothing whenever she is free. She offers credit and collects every week from her customers. She started this business with her first loan. She has excellent, responsible customers, and she earns a good income that pays for her younger children's education. She will use this loan to buy a variety of clothing. This is the group's second loan cycle, and the members are pleased to be able to continue running their businesses. Maryuri dreams of giving her children the best she can.