SUPPORT PROJECT FOR THE SAVINGS AND

CREDIT ORGANIZATION GROW TOGETHER (SAN MIGUEL) OF BELISARIO QUEVEDO

LOCATION:

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Organization:            Grow Together

neighborhood:           San Miguel

Parish:                      Belisario Quevedo

Canton:                     Latacunga

Province:                  Cotopaxi

 

TIME FOR THE PROJECT: 1 YEAR

 

BENEFICIARIES: 21 FAMILIES

 

BACKGROUND

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In Belisario Quevedo parish of the Latacunga canton, in the province of Cotopaxi, there is an organization of 21 families that has been working with FEDICE since 2019 on animal husbandry projects and family businesses.

 

For this last project, FEDICE will grant $12,800 reimbursable funds to 16 families and with the organization's own funds, resources will be given to 5 families, that is, for this project there are 21 families, each one will receive $800.

The funds that each family will receive will be for raising domestic animals: cattle, pigs, guinea pigs and businesses: purchase and sale of cattle, store, hairdresser, sewing workshop and fruit and vegetable store, food business and purchase and sale of cars.

Due to the variety of areas, the organization will work as a savings and credit bank to encourage families to carry out different activities.

The purpose of the Fund is to encourage members to save and improve socio- economic conditions through the provision of credits for agriculture, raising domestic animals and commerce.

 

JUSTIFICATION

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Currently, the social and economic reality of the residents of many rural areas of the Cotopaxi province is critical, taking into account the low level of income to cover their minimum needs.

The families have been carrying out practices of forming a common fund and re- lending with their credit policies, in this way they have a base of $4,700 to continue with this credit activity.

 

With the associated work of the 21 families in the execution of this project, the Crecer Juntos (San Miguel) organization of Belisario Quevedo is strengthened organizationally and economically because its partners have demonstrated honesty and responsibility in economic management, allocating credit to productions and businesses.

 

In addition, FEDICE continues to provide support for the training, monitoring and evaluation of the activities of the savings and credit bank, businesses and production, achieving greater participation of its members in the search for sources of work and the opportunity to continue with FEDICE, which supports with credit and technical assistance.

 

FINANCING

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Costo of the Project:                                     $ 20,125.00  dollars

FEDICE: reimbursable funds:                              $12,800.00   dollars

ORGANIZATION: Training contribution               $ 1,920.00    dollars

Organization funds:                                              $5,405.00    dollars

TOTAL:                                                               $20,125.00   dollars

 

GENERAL OBJETIVE

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Strengthen the Community Savings and Credit fund in Crecer Juntos organization of the Belisario Quevedo Parish of the Latacunga Canton of the Province of Cotopaxi” that allows the socio-economic development of the area.

 

SPECIFI OBJETIVES:

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• Promote the culture of savings in the beneficiaries.

• Promote local productive activities through timely financing.

• Motivate the group of beneficiaries and their families to participate in solving local problems.

• Train in the formation and management of the savings and credit bank

 

GOALS

Crecer Juntos Organization has a community savings and credit fund in operation and serving families in the area.

 

• The organization of 21 families has the practice of monthly savings.

• The savings and credit fund provides resources to families that they allocate for production and the increase of their businesses.

• Contribute to the practical solution of the problems of poverty, unemployment and marginality of the peasant families that live in the community through the strengthening of established businesses.

• 21 families trained in organizational, administrative, accounting and technical topics in cash management and the proper use of resources.

 

MISSION

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Contribute to the economic and social development of low-income entrepreneurs in the “Belisario Quevedo” community, provide microcredits and training to strengthen their ability to generate income in pursuit of individual and family well- being.

 

VISION

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Establish itself as a financial alternative in the delivery of microcredits, with significant coverage at the local level, identified and recognized for its management, efficiency and effectiveness, thanks to the capacity of its staff and the use of appropriate technology.

 

INSTITUTIONAL OBJETIVES

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• Encourage the socioeconomic development of the organization “Crecer Juntos”, in Belisario Quevedo, promoting the improvement of the material and social conditions of the family.

• Generate an adequate environment of cooperation.

• Extend financial services at low costs.

• Promote solidarity among its members

• Provide research, training and technical advisory services in those areas that contribute to the economic and social development of the community.

• Achieve sustainability of operations.

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VALUES

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1. Honesty. - We take special care in the management of the economic and material assets entrusted to us.

2. Responsibility. - That the funds are allocated to productive activities and that there is a commitment to the proper management of the funds as a family and as an organization.

3. Service. - We seek effective satisfaction of the needs of our partners; offering quality services.

 

STRATEGIES

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1. Establish the legal documentation to create the Fund.

2. Start the Fund.

3. Begin internal regulations.

4. Promotion and training

5. Promote training workshops for the people who work there and the community.

6. Design appropriate documentation for savings and credit operations.

7. Keep the credit portfolio up to date.