A loan of $1,175 helped buy fiesta items like piñatas, surprises, and decorations in bulk.

Luz's story

Luz paid off her first Kiva loan on time, and she has plans for growing her business even more. The growth she has experience over the last six months has been amazing. By giving her access to credit, Mifex and Kiva gave Ms. Q. the ability to explore new product lines and take advantage of the niche market for party supplies like piñatas y sorpresas . With a different fiesta just about every two weeks in Ecuador, Luz has positioned herself as one of the best ‘mom and pop’ shops in Guayaquil. Geographically, Luz is lucky to be where she is along major thoroughfares in the marginal part of the city. She has over 25 years of experience and originally began her business with $10 selling toys to children. Realizing that she only had gift items and toys for Christmas, she soon began to purchase inventory for other holidays and parties. Her children help lend a hand in running the business, and they all report a better standard of living from six months ago. With the increased income, Luz has been able to afford more food for the family as well as more working capital to invest back into her shop. Now that she no longer has to rely on the chulqueros who charge 20% monthly, Luz is asking Mifex and Kiva for a second loan so she can purchase more supply in cash and take advantage of the rebates and discounts being offered.

Doña Luz is glad that there is organization like Kiva using technology to help the poor in Guayaquil, Ecuador, for in the past, she had no other option but the loan sharks. Not only did she repay her loan on time, but she is now in need of another loan from Mifex and Kiva. She explains that another loan would be a boon for her company, for she would be able to invest more in wholesale products, introducing new product lines, and increasing her income. In addition to managing her business, Doña Luz manages her home and pays for her childrens' schooling.

Mifex offers its clients microinsurance and access to business training and educational programs. For more information about microfinance, Ecuador, and our services, please visit www.mifex.org.

Loan details

Lenders and lending teams

Loan details