A loan of $675 helped to buy perfumes, creams, cosmetics, and miscellaneous goods.

Edith Magdalena's story

The “Jaime Roldos” communal bank meets every 15 days in Jaramijo Canton. This place is known for its beautiful beaches. Most residents here are very hardworking and dedicated to tasks related to the sea.

Edith, 33, lives here. She’s in a common law relationship and has four children who are 15, 12, 11 and 2 years of age. The three older ones attend school, two go to secondary school and the other one is in elementary school. Her husband’s a carpenter.

She is a housewife who in order to earn her own resources sells Avon products (beauty products, cosmetics, perfumery and women’s accessories). She sells door to door and works the three last days of the week. She sells on credit and collects payment every 8 days. She tells us that she takes advantage of special offers because they produce higher profits when she resells them at regular prices thus earning more that way. What she sells the most is perfume and cosmetics. She’s been in this line of work for three years and she does very well.

She is repeating her loan in the bank and she tells us that with the one she got before she was able to buy certain things needed for her children’s schooling since the school term has started and if it weren’t for that they wouldn’t have been able to attend school because what her husband earns doesn’t stretch far enough for this. She wants this loan to buy perfume, creams, cosmetics and costume jewelry.

This is her fifth cycle in the communal bank and she likes it because the payments are easy to make. Her dream is to own a boutique.

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Translated from Spanish by Kiva volunteer Polliz

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