Microcredits for the indigenous sector of Canton Ambato, case: Incidence of microcredits in improving the quality of life of the indigenous social segment

Abstract

Introduction. The quality of life according to various authors are novel possibilities of life satisfaction, or having a good life in different aspects: social, economic, emotional and educational; Regarding the granting of microcredit, these come to be related to purchasing power. Objective. To investigate how the delivery of microcredits affects the improvement of the quality of life of the indigenous social segment of the towns of the Canton Ambato. Methodology. The research design was based on methods of analysis, theoretical framework through contributions and conceptualizations, descriptive method with the use of the survey and the questionnaire, quantitative and qualitative. The population was 10,973 and the sample of 95 members of the indigenous savings and credit cooperatives of Cantón Ambato. Data was collected through the survey made up of 20 questions, and their interpretation was achieved, identifying how the granting of microcredits affects the quality of life of the indigenous population and determining various aspects that complicate well-being. of the native towns located in the city of Ambato; the contributions and concepts of experts, bibliography and related literature, qualify the study with validity, relevance and coherence. Results. Among the results, we see that the age of the members of the savings and credit cooperatives is 50 years or more, with 43.48%, followed by those between 34 and 41 years old, standing at 22.61%. Regarding marital status, 53.91% of these are married. The 76.52% occupation area are merchants. Members have three children and comprise 42.86%. The age of their children is established at 24 years with 14.29% and it is evident that they work. The number of people who live in each household of the partners is established at 28.75% with the range of 1 to 3 people, this constitutes that family expenses are not so high and therefore they are subject to credit in a positive way. The partners who have a type of merchant job are registered with 57.14%. The monthly family income is $ 1001 to $ 1500 and corresponds to 42.86%. 71.43% have approved basic education. 90.43% of affiliates rated the cooperatives very good and good in terms of granting loans quickly and with minimal requirements. The amount of the credits covers 48.70%, with values ​​between $ 501 to $ 1000. The destination they give to the credits obtained is commerce, whose location for the purchase of livestock and a variety of domestic animals is at 41.74%. Compliance with the payment of the monthly payments for the credit granted is set at 83.48% of partners considered as highly accomplished and accomplished. 74.78% of cooperators request 1 credit in the 12 months, for financing facilities, payment and minimum requirements. The credit delivery time in 3 days reaches 64.35% of the partners in an amount less than $ 1000, when this amount exceeds the crediting time is 5 days. The credits requested are mostly for food, livestock, clothing and animal husbandry trade, with 62.61% of partners. Regarding the type of credit and sex of the affiliates, 62.61% applied for commercial loans in general and 35.65% were required by women. 52.78% of partners are working permanently, an environment where there are mostly women. 100% of the partners have a business or commercial premises, of which 56.94% are women as business owners. 91.67% affirmed that the situation of their businesses improved significantly. Conclusion. It was concluded that the Indigenous Savings and Credit Cooperatives SAC and CREDIPACIFICO have a specific strategic direction, their presence in segment 3 and the provision of their services defines them as icons in the economic / financial sector, as they are fulfilling their objective, which is that of improving the quality of life of the vulnerable sectors of the indigenous population, through the granting of credits and / or microcredits endorsed by the different existing legal protections for this financial segment.