A loan of $775 helped to buy trousers, t-shirts, blouses, and children’s clothing.

Cruz Magdalena's story

The Communal Bank “Picoaza” meets every 15 days in the parish of Picoaza in the city of Portoviejo. This place is known for being a commercial area, celebrating the traditional festivals of St. Peter and St. Paul, and having a rich historical culture influenced by the surrounding mountains.

Sra. Cruz lives in this place. She is 52 years old, married, and has three children who are grown and independent. Her husband is both a chauffeur and a merchant.

Cruz and her husband sell all types of clothing. They travel to the city and the rural areas in a truck that they own. This enables them to reach many places in order to make sales. They sell their products for cash but they also extend credit only to people that they know and trust. Cruz and her husband work Fridays, Saturdays, and Sundays. The merchandise is purchased in Guayaquil, which is where her son lives. Her son buys the merchandise and then sends it to her via transportation provided by a cooperative.

This loan will be used to buy trousers, t-shirts, blouses, and children’s clothing. Cruz has been with the Communal Bank for four loan cycles and enjoys being a member because the interest rates are very low. Her dream is to have her own store so that she can sell from a stable place of business.

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Translated from Spanish by Kiva volunteer Ronan Reodica

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