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San Gregorio  (Montecristi) Group
In this Group: Sonia Alexandra, Deysi Margarita, Mariela Alexandra, Angela Elizabeth, Liliana Verónica, Irving Stalin, Nelly Narcisa, Lorena Jasmin*, Cruz Marilu, Alba Colombia, Junior Ernesto, Solanda Narcisa
* not pictured
The “San Gregorio” communal bank meets every fifteen days in Colorado Parish in Montecristi Canton known for its rich pre-colonial culture and for its crafts that are famous both nationally and internationally; it’s where the famous straw hats come from.

This communal bank has 10 women and two men. We met Solanda Narcisa here. She’s 33-years-old, married and has two children who are 12 and 6 years of age and attend school. Her husband’s an artisan.

She relates that this is a group of very humble, hardworking people who decided to join together and form this group when they found out about the benefits the institution provides in order to improve their businesses. They are in a variety of activities like animal husbandry and general commerce among other activities.

Along with her husband she owns a family business. They have a small factory where they manufacture buttons made of ivory palm. They work there day to day giving shape to their products which they deliver once a week to wholesalers that come by to then take them to Manta where they are shipped and sent to other countries to be finished there and be sold. A woman they pay a weekly salary works with them. She tells us that it’s quite hard work but it has its rewards and produces good profits because they do most of the work themselves. They’ve had the factory for more than 8 years and have always done very well.

This loan is to buy ivory palm to manufacture the buttons. This is their and the entire group’s first cycle and they hope to continue getting help from the bank for a long time to come. Her dream is that her children have the best.
View original language description ↓
EL Banco Comunal San Gregorio se reúne cada quince días en la parroquia Colorado del Cantón Montecristi, conocido por su rica cultura pre colonial y por su artesanía que es reconocida a nivel nacional e internacional. Lugar de los famosos sombreros de paja toquilla.

Este Banco Comunal está integrado por 10 mujeres y 2 hombres, en este grupo conocimos a la señora Solanda Narcisa ella tiene 33 años de edad, está casada y de esta relación tiene 2 hijos de 12 y 6 años que estudian en colegio y escuela. Su esposo es artesano.

Nos cuenta nuestra amiga que este es un grupo de personas muy humildes y trabajadoras que al enterarse de los beneficios que les brinda la institución decidieron unirse y formar este grupo para así mejorar sus negocios. Ellos se dedican a diversas actividades tales como cría de animales, comercio en general, entre otras actividades.

Nuestra amiga junto con el esposo tienen un negocio familiar, ellos tienen una pequeña fábrica en la cual elaboran botones hechos de tagua, allí ellos dia a dia trabajan dándole forma a sus productos los mismos que una vez por semana entregan a comerciantes mayoristas que llegan hasta el lugar para luego llevarlos a Manta, lugar donde los embarcan y envían a otros países para que allá les den el acabado necesario para poder ser comercializados, con ellos trabaja una señora a quien le pagan un sueldo semanal, nos cuenta nuestra amiga que es un trabajo bastante duro pero tiene sus recompensas y les queda buenos ingresos porque la mayoría del trabajo lo realizan ellos mismos. Tienen más de 8 años con su fábrica y siempre les ha ido muy bien.

Este crédito es para comprar tagua para elaborar los botones, este es el primer ciclo igual que todo el grupo y espera seguir por mucho tiempo más recibiendo la ayuda del banco.

Su sueño es que sus hijos tengan lo mejor.

Additional Information

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Ecuador

  • $10,600
    Average annual income
  • 52
    View loans »
    Ecuador Loans Fundraising
  • $26,542,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of San Gregorio (Montecristi) Group's $5,900 loan helped a member to buy ivory palm.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Jul 3, 2012
Jul 13, 2012
Currency Exchange Loss:
Nov 15, 2012