A loan of $1,100 helped purchase rice, sugar, oil, detergents, sausages, and other basic necessities.


José Gaston's story

The members of the Communal Bank “Plazoleta Eloy Alfaro” meet in the September 30th neighborhood of the canton of Rocafuerte. This place is known for the delicious sweets that are prepared by the locals and well-known throughout the country.

It is here one can find Don José. He is 58 years old, divorced, and maintains relationships with his two adult children who live with their own families. His new wife has a two year old child who brings him joy. She handles the household chores.

José has a grocery store where he sells products such as rice, sugar, oil, detergents, and other items. He works every day from 6am to 10pm and sometimes much later. José buys his products in Portoviejo and some of them are shipped to his store. He says that he has been in business for four years. There are good days and others days when he earns just enough to support himself and his family.

This loan will be used to restock his store even more. He will buy rice, sugar, oil, detergents, sausages, and other basic necessities. José has been with the Communal Bank for four loan cycles and enjoys the fact that the interest rates are much lower than other credit institutions. His goals include moving forward with his business and growing his store each day.

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Translated from Spanish by Kiva volunteer Ronan Reodica


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