A loan of $1,400 helped buy sheets, sunglasses, imitation jewelry, and clothes.


Alfonsina's story

The María Asunción communal bank meets every 2 weeks in the Picoaza village, which is near the city of Portoviejo. This area is well known as a commercial area, for the traditional festivals of Saint Pedro and Saint Pablo, and for the happiness of its people. Alfonsina is 58 years old and lives in Picoaza. She is married and has 2 children. One of them passed away but the child she still has is grown and independent. Her husband is a teacher. Alfonsina works selling clothes and sheets door-to-door. She started this business with the first loan that she received via her communal bank. She works 4 days a week and collects her money on the weekends (since she sells on credit). In order to stock her store, she has to travel to the cities of Guayaquil and Quito every 2 weeks. Currently, she is mostly selling seasonal clothes such as bathing suits, shorts, and hats. She also sells imitation jewelry and primarily women's sunglasses. This loan is to buy sheets, sunglasses, imitation jewelry, and all kinds of clothes. She is the founding member of her communal bank and she likes it because she was able to start her business with a loan. Her dream is to progress and get ahead in life.

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Translated from Spanish by Kiva volunteer Patrick Bales


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