A loan of $4,750 helped a member operating capital for their various business activities.

Vegaspamba (Cuenca) Group's story

The Vegaspamba Communal Bank was established in the community of the same name within the city of Cuenca. The residents engage in agriculture, primarily the cultivation of corn and vegetables. The area is well-known for its colorful festivals, traditional music, local customs (such as climbing the grease pole), fireworks, and numerous attractions that bring in domestic and foreign tourists. The Communal Bank consists of members who are related to one another. They are looking for new ways to be productive and generate income so that their families can have a better quality of life.

Sra. Flor F. D. is a member of the Vegaspamba Communal Bank. She lives in the San Joaquin Parrish located on the outskirts of Cuenca. She is 32 years old and has been separated from her husband for four years as a result of misunderstandings and a lack of communication. Flor is the mother of seven children ranging in age from 3 to 17. Her oldest daughter works as a housekeeper in order to help with the household expenses. The other children are students in either elementary or secondary school. Only her nine year old son lives with his grandmother in the community of Vegaspamba. Flor’s house is made only of boards and sheets of zinc.

Flor is engaged in agriculture, planting all types of vegetables so that she can sell them at the open fair or in the markets of Cuenca. She has been farming for many years since she learned the trade from her parents. Her work begins every day at 4am. On Wednesdays and Saturdays, she travels to the fair.

This is her fourth cycle working with the Institution. She used her previous loans to purchase seeds for planting crops. Flor also received training on how to save money. With this new loan from Fundación ESPOIR, she will purchase seeds for growing lettuce, tomatoes, spinach, carrots, broccoli, and other vegetables. Part of the money will be used to buy school supplies for her children.

Her goal is to increase her crop output and improve her financial situation so that her children can have a better future.

Sra. Rosa D. is also a member of the Vegaspamba Communal Bank and lives in the community of the same name. She is 57 years old and has been separated for 18 years when her husband abandoned the family. Rosa has six children, all of whom are married. Her home is a result of all the hard work she has performed since she was a young woman. Rosa currently lives with her grandson, who attends school in Vegaspamba. He is the only person who provides her company.

Rosa produces handmade sweaters. She took up weaving six years ago when friends from the neighborhood taught her this skill. Rosa now instructs other women how to start this type of business in their own communities. The women she teaches produce mainly nylon bags.

Rosa is participating in her fourth cycle with the Foundation. She says that her previous loans were a great help because they enabled her to maintain her business. With this new loan from Fundación ESPOIR, she will purchase bags for her business and some food for household consumption.

Rosa hopes to remain financially stable.

In this group: Carmen Amelia, Ana Cecilia, Mariela Alexandra, Zoila Mercedes, Ruth Cecilia, Flor Ermencia, Lina Marlene, Lus Maria*, Rosa Balvina, Maria Eugenia, Maria Ines, Zoila Elena, Maria Mercedes
*not pictured

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Translated from Spanish by Kiva volunteer Ronan Reodica

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