Ecuador
Please note: Due to the current economic and social instability in Ecuador, the country is experiencing record levels of regional displacement and migration. While this is not a pattern we are seeing across the country, it is worth noting that during this time your loans in Ecuador may be at more risk of delay or non-repayment.
Manuel is 46 years old and married. He lives with his family in Barrio Corral Chico. The couple has four children. The older two have moved out as they are adults and independent. The two younger children are still studying as they are minors. His wife does all the housework and looks after the two children when they come home.
Manuel is primarily engaged in hybrid maize farming activity. He also farms pigs as an additional source of income. These activities are carried out in his own farmland. He wakes up early in the morning to feed his pigs before heading to his fields for looking after his crops. His produce is sold informally by seeking buyers in nearby areas in need of maize or pork.
Manuel started his microenterprise around eight years ago when he returned from a northern place and settled in his community, Corral Chico-Huandulanga. He began growing a hectare of hybrid maize, and now he has expanded to four hectares of farmland for growing hybrid maize and peanuts.
He fattens four pigs and fifty free-range chickens. He hires four day-labours during the maize cropping and harvesting seasons. He sells around 45 sacks of hybrid maize each month, each sacks cost $18.00 (£14.43); six sacks of peanuts for $90.00 (£72.16) and one adult pig for $350.00 (£280.64). Selling his products, he gets $810 (£649.42) and working extra as a day-labour he gets $380.00 (£304.66). His net profit is $644.00 (£516.30). Manuel feels very proud that he managed to buy his own plot of land where he currently works and lives plus being able to provide his family with the daily necessities.
Manuel is requesting a loan for $3,500.00 (£2,805.99); he will invest $2,000.00 (£1,603.31) for his maize harvesting and preparing the land. The remaining $1,500.00 (£1,202.54) will go towards buying farming inputs and cover the payments for the extra labours he will hire.
Please note that this loan will not be repaid in equal monthly instalments. Please see the repayment schedule below for more details.
Loan added: 15 November 2023
Manuel Agustin's loan repayment schedule
| Date | Expected repayments | Actual repayments |
|---|---|---|
| £280.34 | ||
| £0.00 | ||
| £0.00 | ||
| £350.43 | ||
| £0.00 | ||
| £0.00 | ||
| £350.43 |
The above amounts are indicative, based on the exchange rate the day this loan was added to the website. The actual amounts you will receive will be based on an exchange rate at the time the repayment is returned to your account. See our Help Centre for more information.
