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88%

funded

Only 16 hours left!

$125.00 to go

Total loan: $1,125

Jose Andres

Portoviejo, Ecuador / Grocery Store

A loan of $1,125 helps to buy milk products, sodas, tuna, bread, etc.

Jose Andres's story

Jose Andres and his family live in Portoviejo, a city affected by the earthquake that occurred on April 16, 2016 and that is now also being affected by the COVID-19 pandemic. The city is rich in agricultural production, such as vegetables and tropical fruits for internal consumption.

Jose Andres is an English teacher. He worked at an educational institution that closed and he became unemployed. He works now selling perfume via social media and WhatsApp, although sales have gone down. The good thing is that he manages a grocery store out of his home where he sells various staple products each day such as rice, pasta, sodas, water, flour, milk products, etc. The health crisis was very difficult at the beginning because he was unable to make sales, but now, little by little, he is reactivating his business and is thus able to generate some income. This loan will be used to buy milk products, sodas, tuna, bread, etc. His dream is to have a stable job and for his family to be in good health.

Previous loan details

José is 30 years old, single, and lives with his parents in the lovely city of Portoviejo where the people are very friendly, responsible, and enterprising. This city has been greatly affected by the health emergency caused by COVID-19.

He is a responsible and hard-working young man who, with his work, supports his parents with the household expenses. He works in sales. He has a business selling imported perfume and also is a teacher at a private school, where he teaches English.

Due to the pandemic, his business has dropped a lot, he has sold very little through the internet. With this new loan, he plans to invest in the grocery store he has in his house.

This loan is to purchase groceries and perfume. His dream is to be healthy and that the economic situation improves.

The city of Portoviejo was struck by an earthquake on April 16, 2016. The city is an important producer of greens, vegetable and tropical fruit for internal consumption.

Jose is 29 years old, single and has no children. He lives in his parent's house. Jose is a teacher but at this time he is not working in an institution. At his house he gives classes to help children with their schoolwork in the evenings. He also has a grocery store where he works from 6:30 am until 3 pm every day. He sells rice, sugar, oil, detergent, etc. He works daily from 6 am until 8 pm and sometimes later.

With this new loan he will buy quintals of rice, dried grains, pasta, tuna, detergents, etc. His dream is to continue to expand his business and continue to have good health

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Translated from Spanish by Kiva volunteer Debra McMahon. View original language description.

Jose Andres y su familia viven en Portoviejo, ciudad afectada por el terremoto el 16 de Abril del 2016 y ahora con la pandemia del covid-19, la ciudad es rica en producción de hortalizas, legumbres y frutas tropicales para el consumo interno.

Jose Andres es profesor de inglés, trabajaba en una institución educativa la cual cerró y él se quedó sin empleo, es vendedor de perfumes por redes sociales y WhatsApp, aunque las ventas han bajado; lo bueno es que el mantiene su tienda de abarrotes en casa donde vende todos los días varios productos de consumo masivo como arroz, fideos, colas, aguas, harinas, lácteos, etc. La crisis sanitaria al principio la tuvo muy mal ya que no podía vender, pero ahora poco a poco lo está reactivando para así poder continuar generando sus ingresos. Este crédito es para comprar lácteos, colas, atunes, panes, etc. su sueño es tener un empleo estable y que su familia tenga mucha salud.

This loan is special because:

It helps borrowers withstand negative economic impacts of the COVID-19 pandemic.

Patrick Flynn, Kiva staff

Patrick Flynn
Kiva staff

More about this loan

Loan details

Loan length:

8 months

Repayment schedule: Monthly

Disbursed date: November 23, 2020

Funding model: Flexible

Partner covers currency loss? N/A

Facilitated by Field Partner: Fundación ESPOIR

Is borrower paying interest? Yes

Field Partner risk rating:

Lenders and lending teams

Country: Ecuador

Field Partner: Fundación ESPOIR

Why Kiva works with this partner:

ESPOIR uses the village banking method to offer credit and education services to poor and marginalized women in urban and peri-urban areas of Ecuador with elevated poverty levels. The vast majority of its clients did not have access to credit prior to their first ESPOIR loan, and the institution works with clients to help them eventually “graduate” from small group loans to larger individual loans. Kiva funding enables ESPOIR to keep its cost of capital down, creating benefits that can be passed on to clients. For example, one ESPOIR branch office has an on-site health clinic that offers clients and their families unlimited access to medical tests, pre- and post-natal care, birth control counseling, and many other treatments for common ailments for just 75 cents a month per family. Since this service is not profitable for ESPOIR to operate, it would be more expensive to maintain without Kiva funding.

Time on Kiva: 139 months

Kiva borrowers: 41,614

Total loans: $33,847,150

Average cost to borrower: 29% PY

Profitability (return on assets): 3.5%

Average loan size (% of per capita income): 14.00%

Delinquency rate: 1.77%

Loans at risk rate: 2.91%

Default rate: 0.10%

Currency exchange loss rate: 0.00%

More about Fundación ESPOIR

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Repayment schedule

Show advanced

	Expected	Actual
Mar 2021	$120.39	Available Mar 1
Apr 2021	$244.18	Available Apr 1
May 2021	$248.77	Available May 1
Jun 2021	$381.96	Available Jun 1
Jul 2021	$129.70	Available Jul 1

	Expected	Amount	Actual
Mar 2021
From borrower to Field Partner	Jan 21, 2021	$120.39
From Field Partner to lenders	Mar 2021	$120.39	Available Mar 1
Apr 2021
From borrower to Field Partner	Feb 4, 2021	$121.52
	Feb 18, 2021	$122.66
From Field Partner to lenders	Apr 2021	$244.18	Available Apr 1
May 2021
From borrower to Field Partner	Mar 4, 2021	$123.80
	Mar 18, 2021	$124.97
From Field Partner to lenders	May 2021	$248.77	Available May 1
Jun 2021
From borrower to Field Partner	Apr 1, 2021	$126.13
	Apr 15, 2021	$127.32
	Apr 29, 2021	$128.51
From Field Partner to lenders	Jun 2021	$381.96	Available Jun 1
Jul 2021
From borrower to Field Partner	May 13, 2021	$129.70
From Field Partner to lenders	Jul 2021	$129.70	Available Jul 1

*This loan is impacted by the COVID-19 crisis and your support is needed more than ever. Repayments may be delayed or lower than expected.