A loan of $5,600 helped a member to buy fish.


Villa De Oro (Montecristi) Group's story

The Villa De Oro community bank meets every two weeks in Montecristi canton. This area is noted for its rich pre-colonial culture and for its handicrafts which are well known both at home and abroad. It is home to the famous Panama hat.

This is a group of 12 women and 2 men who decided to come together and form a loan group. The group has been very useful to them as they have been able to improve their small businesses through their loans. The members work in different areas such as farming, general commerce, services, etc.

One of the members of this group is 47-year-old Hermes. Hermes is separated but has three children from his relationship. Two of his children are adults whilst the youngest is 9 years old and attending school. He lives with his mom in spite of the fact that Hermes is the one who provides for him financially.

Hermes works in commerce. He is a wholesale supplier of fish. He travels to other coastal towns to buy the best fish available. He then transports it to the city of Manta where he delivers it to a number of companies who process fish. He has been in this business for 29 years and it has made him very good profits.

Hermes will use this loan to buy fish. This is his first loan cycle as a member of his community bank and he likes it for the speed with which loans are disbursed.

Hermes' goals are to continue making progress in his business and also in his personal life.

The two small photos are of group members who could not be present when the group photo was taken.

In this group: Amparo Rosaura, Sonia Monserrate, Norma Isabel*, Graciela Elizabeth, Ana Del Rocio, Monserrate Elizabeth, Angela Monserrate, Hermes Wilson, Jimmy Antonio, Ana Lucia, Genesis Anabel, Nelly Monserrate, María Teresa*, Gabriela Elizabeth
*not pictured

Translated from Spanish by Kiva volunteer Linda Oxnard


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Loan details