A loan of $4,300 helped a member to buy perfumes, lotions, cosmetics, and underwear.

Nueva Esperanza (Portoviejo) Group's story

On the outskirts of Portoviejo, a place where a majority of the people work in agriculture and raise animals, the partners of the Banco Comunal La Nueva Esperanza ("Communal Bank The New Hope") meet every fifteen days.

This is a group of people that decided to unite and form this communal bank that will help them a lot, as the loans will allow the group members to improve the small businesses that they have. They work in diverse businesses, such as commerce, agriculture, and raising animals.

Here, we meet Flor, who is 29 years old and lives in a common law marriage through which she has four children, aged 13, 10, 8, and 6, who are in school. Her husband is a driver.

She is a very good housewife who sells underwear and Oriflame products (beauty products, cosmetics, perfumes, and accessories for women) to acquire her own income. She works three days a week, selling her products on credit and collecting money each week. She has worked in this business for a year, and it is going very well. She loves to sell her products as they are very good.

This loan is to purchase perfumes, lotions, cosmetics, and underwear. This is her third loan cycle with the communal bank, and she likes it because the repayments are easy to make.

Her dream is to own a boutique.

In this group: Flor Elizabeth, Jenny Maribel, Marisol Isabel, Mariuxi Monsserate, Alejandrina Dolores*, Mariana De Jesús, Rosa Armandina, José Alberto, Ruben Orlando, Deisy Annabel, Juana Piedad, Zoila Ana, María Luzmila, Jessica Gabriela, Mayra Alexandra
*not pictured

Translated from Spanish by Kiva volunteer

Loan details

Lenders and lending teams

Loan details