O. is 48 years old, married and has four children, ages 22, 21, 19 and 17. His youngest daughter studies in public school. They live in Isla Trinitaria, in the Southern part of Guayaquil. This area has scant basic services but luckily O.’s home, made of concrete, has electricity and water.
O. is a businessman who always tries to find and sell products that are in high demand at the moment. At the time of this interview, O. was making monigotes with the help of his sons. These monigotes are dolls made of paper maché and stuffed with sawdust and fireworks. It is a tradition in Ecuador to burn these dolls on New Year’s Eve, symbolizing the ending of the old year and the beginning of the New Year. O. and his sons work every day from 8 am until 6 pm. They plan to invest this loan in paint and fireworks for the monigotes.
Even though his business is doing fine, O. and his wife have had some health issues lately. O. suffers from swollen legs and his wife, who takes care of the house, recently had surgery. O.’s dream is to finish his house.
About Banco D-MIRO
Banco D-MIRO is a microfinance institution that serves the most vulnerable sectors of Ecuador’s economy. It offers very small loan sizes without requiring collateral, expanding access to borrowers who would not otherwise be able to access capital to start and grow their own businesses. It also specifically targets borrowers who are excluded from formal financial systems due to race, ethnicity, gender, disability or illness.