A loan of $3,275 helped a member to buy clothes and cosmetics.

Innovación (Cuenca) Group's story

The “Innovación” (Innovation) communal bank consists of nine women living in the city of Cuenca, a city that enjoys beautiful scenery and a cold climate. Since December, 1999, it’s been a Cultural Heritage of Humanity thanks to the beauty of its architecture. This beautiful city is bathed by four rivers. Its residents are kind, gracious and cordial and strive daily to improve the economic situation at home; they work in various economic activities and still retain their culture and traditions.

One of this group’s members is Eulalia. This is the first loan she’s taking out with her friends and companions who form this group with the same goal: personal and family improvement.

Eulalia is 46-years-old, married and has conceived five children who are 28, 27, 21, 20 and 17 years of age. Her oldest son is married and lives independently, her second and fourth attend university, her third works and the last one attends secondary school in the city. Her husband works in his carpentry shop.

Eulalia’s a merchant. She sells all types of clothes and a great variety of cosmetics, an activity she’s been carrying out for 20 years. She has a shop of her own downtown and works Monday to Saturday with no fixed schedule. She will use the money to buy clothes and cosmetics for her customers. Her goal is to enlarge her business.

In this group: Grace Valeria, Cinthya Carolina, Ruth Alexandra, Jessica Paola, Mariana De Jesús, Eulalia Del Rocio, Ligia Verónica, Geovanna Gabriela, Rosa Beatriz

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Translated from Spanish by Kiva volunteer Polliz

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