A loan of $1,075 helped to purchase products to expand the selection of goods in his store.

Fredy Marcelo's story

Fredy is a hardworking young man who is 23 years old and single. He does not have children. He has taken several courses at the university and his greatest dream is to finish his studies in order to become a professional and contribute to his country’s development.

Fredy lives with his brother, Mario, in Quito, the capital of Ecuador, in a barrio called “Chillogallo,” which is located in the southern part of the city. Until recently the neighborhood was ignored as an area of strong economic growth in the capital. Now, however, this area is considered a strong center of economic growth. Here, hardworking families have struggled to succeed. The area’s inhabitants include both native-born and migrants from other cities and countries. It has been a meeting point for people from various provinces and it is being re-built with broad streets. It is an area with a high level of commercial activity and it is constantly growing and contributing to the economic growth of the city. Parks form spacious green zones where families get together on weekends. The people here have access to all kinds of services and they are entrepreneurs who take advantage of every opportunity to establish new businesses.

Three years ago, Fredy opened a store selling basic necessities in the area. He learned the business from some relatives and devotes at least six hours a day to it. Through his efforts, this business has been growing. Nevertheless he has often encountered difficulty in obtaining funding to expand his store. He needs a loan so that he can purchase products to stock his store and sell to his customers. In addition he wants to buy vegetables and fruits, which are in high demand from his customers. With the additional income he will receive, Fredy will be able to finance his university studies at a distance so that he can also tend to his business while he studies.

Thanks to Fundación Alternativa, this enterprising young man will be able to finally accumulate the capital that he has been unable to acquire until now. Thus he can continue to grow personally, as a business man and professionally.

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Translated from Spanish by Kiva volunteer Diane Chaney

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