A loan of $1,600 helped a member to buy wood to use making furniture.

Espiga Group's story

This communal bank is called "Espiga," and it is made up of 3 people who each have their own businesses. They all live in the town called Luis Espinoza. Virginio is married to Elisa, and together they have a son who is still in their care and is in middle school. He is requesting a loan to invest in the purchase of wood to make furniture, such as: chairs, dining tables, armoires, and other items. He has been doing this work for 20 years and 5 months, and he comments that it is going well, because with this business he has been able to get ahead with his family, and for him, this is the most important thing.

He started doing this work when he was very young, because he learned this trade from a skilled tradesman. Eventually, he decided to establish his own carpentry workshop where he could obtain his own income, and it is going very well for him.

What he wants is that with this small business and this loan, he will be able to continue to work and provide work for other people who help him to sand and varnish the furniture.

The members of this communal bank are: Enrique, who will invest the loan in varnishes and wood for his carpentry business, and Josefa, who will invest this loan in the purchase of ingredients to make tamales.

In this group: Enrique, Josefa, Virginio

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Translated from Spanish by Kiva volunteer Lisa Grobar

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Loan details