A loan of $4,475 helped a member to buy hinges, nails, paint, water jugs and other hardware supplies.

Calle 1 De Enero (Portoviejo) Group's story

The “Calle 1 de Enero” communal bank meets every two weeks in Montecristi Canton (Portoviejo) known for its rich pre-colonial culture and for its crafts that are well known both nationally and internationally; it’s where the famous straw hats come from.

This is a group of people who decided years ago to join together and form this communal bank which has been very useful for them since they’ve been able to improve their businesses thanks to the loans. They carry out a variety of activities like general commerce and services, among others.

We met Nora, 43, here. She’s married and has two daughters who are 12 and 9 years old. The oldest is in secondary school and the youngest in elementary school. Her husband works in a cabinet shop.

She’s a great housewife who set up a small home-based hardware store years ago to earn her own income. She sells hardware supplies especially those used in furniture manufacturing. She sells merchandise to some local cabinet making shops in her area. She works Monday through Saturday from 8am until 6pm. She also sells large jugs of bottled water and certain snacks.

This loan is to buy hinges, nails, paint, jugs of bottled water and other hardware supplies that she sells in her store. She’s been in the communal bank since its beginning and she likes it because of the benefits the institution provides. Her dream is to have a large hardware supply center.

In this group: Nora Alma, María Fernanda, Mariela Monserrate, Miryan Jessenia*, Ivonni Del Pilar, Genny Elizabeth, Cruz Esperanza, María Fernanda, Yuly Elizabeth, Diana Monserrate, Juana Maricela, Mercedes Nativa, Jahaira Consuelo, Margarita Magdalena, María Esther, Virginia Del Rocío, José Wilfrido, Yolanda Elizabeth
*not pictured

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Translated from Spanish by Kiva volunteer Polliz

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