A loan of $4,075 helped a member to buy trousers, shirts, blouses, and children’s clothing.

El Papagayo (Portoviejo) Group's story

In the neighborhood of Los Bosques in the city of Portoviejo, two men and ten women that make up the Communal Bank “El Papagayo” meet every fifteen days. They engage in a variety of business activities such as general retail, providing services, and other trades. A short time ago they learned about the benefits offered by Fundación ESPOIR, so they decided to join together in order to access the loans provided by the organization. This is their first loan as a Communal Bank and they hope to do very well so that they can continue receiving loans.

It is in this place where Sra. Virginia lives. She is 24 years old, married, and has a five-year-old son who is in kindergarten. Her husband is an auto mechanic. Virginia is a young homemaker who sells clothes through catalogs of various brands so that she can earn her own income. She works four days a week by going door-to-door and taking orders. Virginia offers her products on credit and collects payment each week. She takes advantage of the morning hours while her son is at school and has been able to improve her sales. Virginia receives her products at a distribution center. She has been in business for more than a year and has done very well.

Her loan will be used to buy trousers, shirts, blouses, and children’s clothing since she has several orders. This is her first loan cycle with the Communal Bank. Virginia serves as the president and enjoys the speed by which she was able to secure the loan. Her dream is to continue forward in her business.

In this group: Virginia Lisseth, Nancy Lidia, Cinthia Monserrate, Zobeida Armandina, Nereida Juliana, José Kenedy, Stephanie Alexandra, Patricia Maribel, Yenny Aracely, Holger Amador, Carmen Asunción, Vanessa Guadalupe

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Translated from Spanish by Kiva volunteer Ronan Reodica

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