A loan of $3,425 helped a member purchase livestock and organic fertilisers for their crops.

Cuen- Las Rositas Group's story

The Las Rositas Communal Bank is a group of 10 members who live in the Ingapirca community, about a half hour outside the city of Cuenca in southern Ecuador. The group formed relatively recently less than two years ago, but the members have been very reliable and responsible. The bank practically runs itself without too much help from their loan officer.

They are very warm, kind-hearted women, and are very eager to be one of Fundación ESPOIR’s top communal banks to join Kiva. Most of the members work in agriculture and cattle farming.

For example, Maria is 25 years old and lives with her partner and 5-year-old son. She works at home, looking after her son and raising guinea pigs and chickens. She currently has 40 guinea pigs and 36 chickens. She is requesting a $150 loan to build a chicken coop because if they aren’t well looked after they die or don’t lay eggs. Her future goal is to build a house for her family; she currently lives in the house of her in-laws. She had never taken out a loan before finding out about Fudación ESPOIR and says that she doesn’t know of any other credit institutions in her community.

Maria Asunción is 35 years old and married with a 5-year-old son. She grows vegetables like carrots, onions and garlic, and also raises animals. She currently has 30 guinea pigs, 15 chickens and one cow. She sometimes sells her produce at the Cuenca market; she travels to the city every two weeks to sell there. She is requesting a $100 loan to purchase carrot and onion seeds, and fertiliser for her land. This is her third loan with her communal bank. She says that she joined the group because it suited her well and her loan officer comes to the town to run the meetings and distribute the loans. Her future goal is to raise a flock of chickens from the city (instead of the country chickens she currently raises). The chickens from the city are a little more difficult to raise, she says, because they are more delicate, but they grow quickly and are better quality, and therefore more profitable.

The other members will use their loans to purchase fertiliser and pigs. The group is very committed to being punctual and responsible in repaying this loan.

In this group: Maria Hortencia, Rosa Balbina, Maria Rosa, Maria Asuncion, Maria Narcisa, Rosa Cristina, Luis Alberto, Maria Natividad, Martha Rosana, Wilman Francisco
*not pictured

Translated from Spanish by Kiva volunteer

Loan details

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Loan details