A loan of $5,575 helped a member to buy construction materials.

Monserrate (Montecristi) Group's story

Monserrate Communal Bank meets every fifteen days in Montecristi Cantón, known for its rich precolonial history and nationally and internationally recognized handcrafts. It's the home of the famous Panama hats.

This is a group of thirteen women and twelve men that a while back decided to get together and start up this communal bank. The bank helps them a lot because with the loans they've been able to improve their small businesses and their quality of life; they are unassuming people who live off the little they earn from their businesses. They engage in a variety of activities like sales, service, food sales, etc.

Victor, forty-nine, lives here. He's married and has three older children who are in college, which costs a lot. His wife is a teacher.

To earn his daily bread and get his family ahead, Victor has been working for many years buying and selling construction materials such as cement, bricks, sand, stone, etc. He takes his car to buy from distributors and then deliver products to his clients at their work sites. This way he makes money from the purchase and sale as well as the transport of the goods. He has quite a few clients that continually ask him to bring materials because he always gets it done and gets it done on time. That's how he makes a living for the family.

Victor plans to use this loan to buy more construction materials. This is his first loan cycle with the communal bank and he likes it because it's easy to get a loan.

Victor's dream is to see his children finish school and become good professionals.

In this group: Estrella Del Carmen, Liliana Johanna, Adela Katherine*, Alexandra Janeth, Briggitte Elizabeth, Sara Natividad, Diana Gabriela, Augusta Elizabeth, Genessis Gabriela, Laura Beatriz, Victor Raul, Carlos Julio, Karten Jeovanna*, Katherine Stefania, Glendys Elvira
*not pictured

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Translated from Spanish by Kiva volunteer Jill Heske

Loan details

Lenders and lending teams

Loan details