A loan of $450 helped to buy pants, shoes, blouses and t-shirts.

Magdalena De Jesus's story

Magdalena came from the province of Loja 25 years ago. She moved to the province of Manabí and at present is a member of the communal bank Los Corrales, located in a community on the outskirts of the city of Montecristi.

Our member is 43 years old, is married and has four children who are all adults. She is an informal vendor of clothes and shoes for women and men. With the loans she has recieved from the Foundation, she has been able to grow her business. She informed us that with her daughter, Magdalena goes out to travel the sector where they live, while her husband has another activity related to selling dairy products. With their life savings, they have been able to buy three cows and they are producing. They make the cheese and the other milk products and later deliver them to stores and other clients.

Magdalena will invest her loan in diversifying her business. She will travel to Guayaquil where the big clothing stores are. She makes the trip periodically or at least when there are a lot of orders. She is very grateful to her friend who motivated her to get into sales. Magdalena is very happy with the business because she has been able to help her husband at home with her earnings. With this new loan she will invest in pants, blouses and shoes. She sells by going to visit her customers' houses. She sells on credit and collects every two weeks. Once she recovers the capital, she re-invests in merchandise.

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Translated from Spanish by Kiva volunteer Ellen Donohue

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