Story of Daniel's garage

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This month: 91 loans funded thanks to 504 Babyloan lenders

Overall funds raised: 25 million euros!

Daniel

Tools to maintain buses

Jonathan Piquet is a volunteer at Cepesiu, in Ecuador. He tells us the story of Daniel, panel beater in Northern Quito, who has been able to stabilize his income thanks to Babyloan support.

Daniel Enrique Anangono Hernandez is 29 years old. He was born in Quito, in a family coming from Salinas de Ibarra, further in the North, in the Sierra. For about ten years, Daniel has been working as an independent panel beater. He rents a place in San Enrique de Velasco, a popular and hilly district, in Northern Quito, where he carries out varied vehicle bodyworks and car painting.

Daniel applied for two microcredits: the first one in 2012 and a second one in 2014.

Microcredit enabled me to develop my activity, to meet a new supply and then to earn a stable income.

The impact of microcredit on Daniel’s life: one year ago, thanks to the quality of his work and the seriousness of his business, Daniel has had the opportunity to sign a contract with a private transportation company in order to maintain its bus fleet. Cepesiu, which has been working with Ecuadorian microentrepreneurs for more than thirty years, accompanied him during this major step by granting him a microcredit funded by Babyloan. Microcredit enabled him to purchase tools and to have the working capital (paint, material) he needed for this new activity. Thanks to this contract, today Daniel earns a stable income and hopes to be able soon to purchase his own house.

Panel beaters and car painters in Ecuador

Next to car dealers’ chains and well established garages which provide services to companies and well off private individuals, there are many independent workers in Quito. They offer simpler services (small damages fixings, painting) to less wealthy clients. I spite of high demand, tough competition often means low and irregular income for these independents whence the chance that represents the opportunity to sign a regular contract, like Daniel did with the bus company.

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Stories of microentrepreneurs

Babyloan is a social business founded by Arnaud Poissonnier, which combines microcredit, solidarity finance and crowdfunding. On Babyloan you make a solidarity loan: you choose a micro-entrepreneur in Europe, Asia, the Arab World, Sub-Saharan Africa or Latin America, who pays you back every month of your loan. In line with the idea of Muhammad Yunus, and his Grameen Bank, we are developing a social microfinance program for microentrepreneurs (mainly women) excluded from the banking system. While the impact of microcredit is complex to measure, we focus on lending low-cost money to our partners, Microfinance Institutions, in order to lower their interest rates. On Babyloan, you can also offer a solidarity gift, or develop your company's CSR approach, via our solidarity challenge platform in particular.

Babyloan edited by ABC Microfinance is registered as Intermediary in Crowdfunding to ORIAS under the n°17005376

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