A loan of $4,850 helped a member to buy electronic supplies.

Exitoso Ancoa Group's story

This communal bank is called "Exitoso Ancoa". It is made up of 18 entrepreneurs who work in different fields, some of which are baking, hairdressing, music, clothing sales, coal sales, confections, electronics, and a mini-market, among others. All are from the city of Linares.

Aquiles, president of the communal bank, who in the photo is standing in the front row, third from the left, is wearing a red jacket with white stripes. He wears his hair short. He has worked in electronics repairs for 32 years. He works from home. He adapted a space in his home to install a workshop and attend to customers. His work schedule in in accordance with his availability. He provided maintenance and repair services for professional amplification and sound equipment, and electronic musical instruments and supplies. He also has a music group that adds to his household income.

He buys the merchandise and supplies that he needs in the city of Linares in local shops that sell electronics. Sometimes he goes to the city of Santiago to buy the things he can't find at a low cost in his city, so it's economically convenient. He will buy electronic supplies with the loan.

One of his goals is to continue with the business, to generate more income, and that way achieve a greater quality of life. Alquiles lives with his four children, ages 29, 25, 21, and 16, who are all studying. His personal dream is to be able to live farther south, and his dream for his family is to give his children the best so that they have a good professional future.

He is very happy with and grateful for the opportunity that Fondo Esperanza has given him, because it has allowed him to invest in his business. He is also very comfortable with the group that he is part of because they are very united, and they communicate very well. With regard to the training provided, he has learned how to better manage his business.

Linares is an important urban center in the Maule region, located in the middle of the country. Agricultural production is very important in this area, along with wine production, and they stand out in the export sphere. Grains (rice, wheat, corn, and oats), vegetables (beets, cabbage, lettuce, chard, and legumes) and fruits are important. Linares is the main producer of rice in Chile. In fact, 78% of national production of this grain occurs in this province, especially in the community of Parral.

In this group: Aquiles, Texia, Julia, Crsitian, Dolores, Isabel, Nadia, Carlos, Waldo, Juan, Jose, Juan, Claudia, Loreto, Oscar, Cecilia, Manuel, Carolina

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Translated from Spanish by Kiva volunteer Caitlin Jones

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