Helping Refugees in Ecuador Grow Businesses

In the vibrant city of Ibarra, Ecuador, Venezuelan refugees are finding hope and rebuilding their lives. Among them is Carmen Eugenia, a 40-year-old entrepreneur who has made Ibarra her home for several years. This is her story and how a small loan can make a significant impact on her life and the lives of other refugees in Ecuador.

Carmen Eugenia’s Journey

Carmen Eugenia left her home country of Venezuela in search of better living conditions for her family. She found it in Ibarra, a city that has welcomed her with open arms. Carmen works diligently and skillfully selling groceries, including consumer staples, sweets, and baked goods. Her dream is to improve her family business and meet the growing demand for her products and services.

A Small Loan, A Big Impact

Carmen is applying for a loan of $950 to buy merchandise like candy, sugar, peanuts, fava beans, and general goods. With this loan, she can offer a greater variety of products to her customers, meet all their needs, and have a good profit margin. Carmen is excited about this opportunity and considers herself a trustworthy borrower.

More Than Just a Loan

This loan is special because it helps primarily Venezuelan refugees in Ecuador to rebuild their lives. By supporting this loan, you are helping refugees, who are often considered too high-risk for basic financial services, to rebuild and sustain their livelihoods in Ecuador.

Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU)

This loan is facilitated by Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU), a savings and loan cooperative founded in 2001 in Ecuador. CACMU’s goal is to provide financial and non-financial services to underserved women and their families. Their services include health coverage, technical assistance, and training services for environmental conservation. CACMU reaches very rural borrowers due to the creation of a mobile branch, which allows them to access remote areas where it would be too costly to open a branch.

The Power of Microfinance

Microfinance is a powerful tool that helps refugees like Carmen Eugenia to rebuild their lives and achieve financial independence. By providing them with access to basic financial services, they can start new businesses, create jobs, and contribute to the local economy.

Carmen Eugenia’s story is just one example of how microfinance can make a significant impact on the lives of refugees in Ecuador. With the help of Lending Partners like CACMU, refugees can access the financial services they need to rebuild and sustain their livelihoods. By supporting these loans, you are not only helping refugees but also contributing to the economic development of Ecuador. Join us in empowering refugees through microfinance.