A loan of $775 helped to buy trousers, blouses, t-shirts, perfumes, crèmes, and trinkets.

Francisca Magaly's story

The July 22nd Communal Bank meets every 15 days in the parish of Picoaza in the city of Portoviejo. This place is known for being a commercial area, the traditional festivals for St. Peter and St. Paul, and the joy of its people.

It is here that one can meet Sra. Francisca. She is 29 years old, single, and lives at the home of her parents. Francisca has participated in three loan cycles with her Communal Bank and likes the assistance she has received to help her move forward in her business and in her daily life.

Francisca is a determined woman who likes being on her own and helping her elderly parents. She sells clothing of all types as well as Avon and Yanbal products (beauty products, cosmetics, perfumes, and women’s accessories). Francisca sells by going door-to-door and taking orders from her customers. She works every day, extends credit to her customers, and collects a single payment either at the end of the week or the end of the month. Francisca has been in business for nine years and has done very well.

This loan will be used to buy more merchandise such as trousers, blouses, t-shirts, perfumes, crèmes, and trinkets. Her dream is to have a boutique in the central part of the city.

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Translated from Spanish by Kiva volunteer Ronan Reodica

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