Funded

Total loan: $4,750
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Flavio Alfaro (Montecristi) Group

Ecuador
Montecristi, Ecuador / Clothing Sales

A loan of $4,750 helped a member to buy clothing.


Flavio Alfaro (Montecristi) Group's story

The Flavio Alfaro communal bank meets every two weeks in Montecristi, a town known for its rich precolonial culture, for its nationally and internationally famous handicrafts, and for its toquilla straw hats. The communal bank comprises 10 women and two men. They are modest, hardworking people who together decided to form this group when they heard about the benefits the institution offered that would help them get ahead. The members have a variety of activities such as making handicrafts and running businesses.

Maryuri, 40, belongs to the group and is married. She and her husband have four children, ages 20, 18, 17, and13, who live at home, though two of them are in high school. Her husband is a cabinetmaker. Maryuri works hard at her business to help her husband support their family. She goes door-to-door selling many kinds of clothing whenever she is free. She offers credit and collects every week from her customers. She started this business with her first loan. She has excellent, responsible customers, and she earns a good income that pays for her younger children's education.

She will use this loan to buy a variety of clothing. This is the group's second loan cycle, and the members are pleased to be able to continue running their businesses. Maryuri dreams of giving her children the best she can.

In this group: Janeth Elizabeth, Maryori Jakeline, Tatiana Monserrate, María Josefina*, Alba Monserrate, Luz Cristina, Juan Carlos, Jenifer Antonella, Ayda Soraya, Zully Melissa*, Josefa Maribel, Sigifredo Erasmo
*not pictured

Translated from Spanish by


Loan details

Loan length:

7 months
Disbursed date: November 29, 2013
Facilitated by Field Partner: Fundación ESPOIR

Lenders and lending teams



Loan details

Loan length:

7 months
Disbursed date: November 29, 2013
Facilitated by Field Partner: Fundación ESPOIR