For Rosa Mejía, the owner of a furniture-manufacturing firm in Ecuador, presiding over an empty showroom, as she did for many years, was frustrating. During that time, she had no furniture to display because wood, nails, paint, and other supplies to construct the samples were too expensive—especially since she was also trying to support her children and herself. She lacked the capital to build her company, even though she knew the investment in supplies would later mean more business.
So when Banco Pichincha’s loan enabled Mejía to buy raw materials and equipment, it marked a turning point. Ultimately, the business flourished, and its success allowed her to put her children through school. Now, her company, Mueblería, supports her. It also employs one of her sons as a business manager and a daughter as an interior designer.
IFC was behind Mejía, too. Our $55 million line of credit to Banco Pichincha was designated specifically for lending to women-owned small- and medium-sized enterprises (SMEs). The credit—part of the global Banking on Women program IFC established in 2010—enabled the Ecuadorian bank to help Mejía.
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