A loan of $2,800 helped a member to buy merchandise and raw materials.

Faroles Group's story

The communal bank called BC FAROLES consists of 13 people of various ages that range from 20 to 50 years. The president of the bank is a person of strong character, cheerful and proactive who, with his sister, forms part of the bank. He has a son who is school-aged. Senora Missel, treasurer, is a go-getter and a determined person who has a minor child who is a year old. Sandra Elizabeth, secretary of the bank, is a person who is very determined and proactive, and the other members of the bank have similar personalities. The president, Alberto, makes sporting clothes. Senora Missel sells cellular phones in a market in the city. Sandra sells office supplies (scotch tape, etc.) wholesale, which she distributes in the different markets in the city. Other members sell food from their homes and another member repairs cell phones and computers. While there are other similar businesses in the area where they are developing their activities, the affluence of the consumers in the markets and the constant urban growth makes it such that the activities that they are developing are not affected. On the contrary, many of the members are hoping to grow their businesses and for this reason they are requesting this loan. The members are requesting this loan in order to acquire merchandise in greater quantity, others to buy new machines to increase their production, others to buy raw materials in quantity and thus increase their working capital. This group is in its first credit cycle, but the majority of them already know each other and have experience working with this type of credit.

In this group: Alberto, Rosario, Missel Gabriela, Rita, Concepcion, Bertha Maxima, Sandra Elizabeth, Jesus Ignacio*, Lidia Julia, Ricarda, Monica, Yoselin, Alicia Ruth De
*not pictured

Translator profile picture

Translated from Spanish by Kiva volunteer Lisa Grobar

Loan details

Lenders and lending teams

Loan details