A loan of $1,200 helped to purchase electrical spare parts for vehicles.

Santo Thony's story

The communal bank Productivo meets every two weeks in the canton of Montecristi, known for its rich pre-colonial culture and its handicrafts, which are renowned nationally and internationally. It is home to the famous Panama hat.

This is where Santo lives. He is 48 years old and is in a common-law marriage, of which he has two children. They are 22 and 21 years old and attend university. His wife is a home maker and helps him with his work.

Our friend has an auto repair shop specializing in the electrical and computerized parts of the vehicle. He says lots of customers come to his shop for him to work on their vehicles because there aren't very many mechanics who can fix this type of problem. Her wife helps him with his work, as well as their children when they can. He has been in his shop for five years, and rents the premises. There he also sells some electrical spare parts, because it makes his work easier and also allows him to make some extra money.

This loan is to purchase certain electrical spare parts for vehicles, which he needs in order to stock his business. This is his fifth cycle with the communal bank, and he likes it because the interest rates are very low compared to other banks.

His dream is to have his own premises so that he no longer has to pay rent.

Translated from Spanish by Kiva volunteer Mariana Sanchis

Loan details

Lenders and lending teams

Loan details