A loan of $1,100 helped to buy rice.

Mayra Monserrate's story

The Damas de Progreso community bank meets in the San Cristóbal neighborhood of Portoviejo every two weeks.

Here we find Mayra who is 29 years old. She lives with her common-law husband with whom she has two children aged 4 and 3. Her husband is a merchant.

She and her husband have a business where they buy and sell rice. They sell their rice by the 100 lb or in 25, 15 and 10 pound sacks. They carry out their business from the premises which they have in their own home. They work every day from 7.00am to 7.00pm. They buy the rice from a rice husking mill in the province of El Guayas. Mayra tells us that they have been in this business for 6 years and that they have done very well in it since they have customers who buy from them every month because they leave their goods on credit and collect payments every week or every two weeks.

This loan will be used to buy rice and increase their business. Mayra has been a member of the community bank for three loan cycles and she likes it because the loans are given without too many conditions. Her dreams are to own a store which stocks everything and a rice wholesalers.

Translated from Spanish by Kiva volunteer Linda Oxnard

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