A loan of $1,075 helped to buy supplies.

Teofilo Maria's story

Teófilo is a 62 year old man who completed elementary school. He has two adult children on their own, but the help him when he needs it. He lives alone, although this causes him some sadness and concern about his future, he continues to work hard to gain his daily sustenance. He lives in the Rio Verde Parish of Santo Domingo, the provincial capital of Santo Domingo de los Tsáchilas, an Ecuadorian province that has had large growth in recent years. Its capital is a city where the most attractive and appealing things are the delicious fruits and the food from this place. It also has considerable business and has become a commercial trading port between the country’s mountains and coasts. It also includes various tourist attractions that, along with its warm weather, are very well known by local and foreign tourists. This is the reason that most of its residents have started some type of merchant or service business for tourists.

Teófilo set up an auto body and paint shop, thanks to his experience and knowledge his friend passed onto him 40 years ago. He works 8 to 10 hours in his shop and has managed to improve his business and obtain loyalty and recommendations from his customers. Others around his shop provide the same types of services so it’s difficult to compete on price because Teófilo has had some trouble getting loans that allow him to expand the variety of products that he offers. Everything changed when he approached Fundación Alternativa. Thanks to Kiva’s help he was able to get a loan quickly and he will use the money to buy supplies and products in quantity to get the best discounts so he can pass the savings on to his customers. He will use earnings he gets from this investment to create a retirement fund. He’s has various health problems these past few years. Teófilo has stated that he will not always be able to work.

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Translated from Spanish by Kiva volunteer Hugo Reyes

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