A loan of $1,075 helped to buy clothes, plastic furniture, sodas and water.

María Elizabeth's story

The Eloy Alfaro Communal Bank meets every two weeks in the Montecristi Cantón, a place known for its rich pre-colonial culture and for its handicrafts which are recognized at both a national and international level. It is the place where the famous Panama hats are made. This is where María lives. María is 38 years old and divorced and has two children from her marriage aged 11 and 5, both of whom are in school. María is studying pre-school education at the University of Manta as well as being a homemaker and mother. So that her children do not want for anything, she also works selling various types of clothing, plastic products such as chairs, tables, baskets, etc. She sells from home and also sells drinks and snacks. She takes the clothing to her study center, and her best customers are her classmates. She has been running this business, which she started with her first loan from the bank, for three years, She earns her living from her business which also provides for her children. She is going to use this loan to buy stock for her business and buy clothing, plastic products, sodas. and water. She has been a member of the communal bank for three years now and she likes it because her first loan helped her to start her business.

Translated from Spanish by Kiva volunteer Geraldine Pugh

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