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A loan of $1,375 helped to buy tires and several spare parts.

Mercedes Migdalia's story

The communal bank "Bienestar y Progreso" [Welfare and Progress] meets every fortnight in Colorado, in the Montecristi canton, which is known for its rich pre colonial culture and its craftwork which is recognized nationally and internationally. It's the place of the famous hats made of toquilla straw plants.

This is where Mercedes lives. She is 49 years old and is a single mother of a 18 years old daughter who is studying in school. She lives with her parents. Mercedes works as a secretary and bookkeeper in a taxi cooperative. She is also a member of it because she has her own taxi affiliated to the cooperative and does routes in the city of Manta. This taxi is driven by a person to who she pays a monthly salary.

Currently, she needs a loan to make some fixings in her taxi in order to provide a better service. She has had the taxi for seven years, which allows her to give the best to his daughter. This loan is to buy tires and several spare parts to improve the taxi.

She is in the communal bank since the beginning and she likes it because she has been able to pay her car with the loans. Her dream is for her daughter to finish her studies and be a great professional.

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Translated from Spanish by Kiva volunteer Elisabet Falgueras

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Loan details