Funded

Total loan: $975
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Carlos Miguel

Ecuador
Montecristi, Ecuador / Manufacturing

A loan of $975 helped to buy ivory palm nuts.


Carlos Miguel's story

The “Virgen del Rosario” communal bank meets every two weeks in Colorado in Montecristi Canton known for its rich pre-colonial culture and for its crafts that are famous both nationally and internationally. Most residents here work making ‘tagua’ [ivory palm] buttons, crafts and in general commerce. Carlos, 33, lives here. He’s in a free union and does not have children yet. His wife’s a housewife.

Like many people in this community, Carlos works manufacturing ‘tagua’ buttons for which he owns a lathe (machine to cut tagua) used to manufacture the crude buttons; that is with none of the finishing touches they need in order to be sold. He sells the buttons to wholesalers that take them to Manta to be exported abroad to be finished. He works every day with his wife’s help and has been in this business 15 years having learned the profession while still very young.

He will use this loan to buy tagua which is the raw material for manufacturing the buttons. He’s been in the communal bank almost two years and he likes it because of the help they give with the loans. His dream is to own a house since he currently lives in his parents’.

Translator profile picture

Translated from Spanish by Kiva volunteer Polliz


Loan details

Loan length:

8 months
Disbursed date: November 22, 2012
Facilitated by Field Partner: Fundación ESPOIR

Lenders and lending teams



Loan details

Loan length:

8 months
Disbursed date: November 22, 2012
Facilitated by Field Partner: Fundación ESPOIR