A loan of $1,175 helped sotero will invest in a new and more powerful sewing machine as well as in fabrics.

Sotero's story

Sotero is a tailor who works with his wife to make suits, school uniforms and other clothing articles. This family business is the main source of income for them and their 6 year old child. This is the second time Sotero is seeking a loan from Mifex and Kiva. With his first loan he was able to boost his production for the school year and saw his income increase significantly. He has made a formal agreement with a large distributor for whom he produces a pre-determined amount of clothing articles per week. He also continues to sell to the people in his community. He is now seeking a second loan with Kiva and Mifex in order to purchase a newer and better sewing machine as well as a large amount of fabric. He anticipates a very busy Christmas season and is thus preparing for a major increase in production.

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

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Loan details