Financial Biographies Series: Immigrants from Ecuador, Maria Elena
By Dijja Tamen, Master of International Business (MIB) Candidate at the Fletcher School of Law & Diplomacy, Tufts University and Rosemary Ventura.
Maria Elena moved to Ecuador seven years ago with her husband to support their daughter, who had migrated to Ecuador after being harassed and extorted in Venezuela. Her daughter initially found work with a doctor, but soon after their arrival, she fell ill with breast cancer. The family’s savings of $6,000, which they had brought from Venezuela, were quickly exhausted in covering the treatment costs. “We thought it would only be a temporary six-month trip to support her,” Maria Elena recalls, “but the illness was severe, and our money disappeared.”
In March 2018, Venezuela underwent a monetary reconversion, removing five zeros from its currency. This move effectively wiped out the little remaining money Maria Elena’s family had brought with them. “It was tough,” Maria Elena says, “but now Ecuador has more possibilities for documentation.” Initially, the process of obtaining residency was complicated, requiring police records from Venezuela and dealing with intermediaries. “At first, you needed to get police records in Venezuela, long lines, dealing with intermediaries. Those without documents just don’t want them or are passing through.”
Upon arriving in Guayaquil, Maria Elena’s husband found temporary work parking cars. A fortuitous meeting with the president of a table tennis federation led to a job helping to run a club. Eventually, he took full ownership of the club when the previous owner, who owed him three months’ salary, decided to relinquish it. During this period, Maria Elena started cleaning houses to make ends meet.
In Venezuela, Maria Elena was an economist with her own business. She decided to leverage her skills to help other migrants sort out their paperwork cases for small fees. This not only provided some income but also expanded her social network. “In Venezuela, I had my business, I’m an economist. I organized companies and departments, handling administration. With the experience I had, I started to handle immigrant paperwork. They are victims, and I began earning from helping other immigrants.”
“In Venezuela, I had my business, I’m an economist. I organized companies and departments, handling administration. With the experience I had, I started to handle immigrant paperwork. They are victims, and I began earning from helping other immigrants.”
In 2019, Maria Elena started a cake-selling business to supplement their income. She participated in a business planning workshop with the World Council of Credit Unions (WOCCU). At the end of the workshop, there was a seed capital contest. Winning this contest enabled Maria Elena to buy essential equipment for her cake business, such as an oven, baking materials, and kitchen supplies. This marked the beginning of her business, “Marquella en Parquea.” “I didn’t have the equipment for entering the pastry market—no oven, no kitchen, nothing,” she says. “My budget was approved, and I received a sum of money, bought part of my equipment, and that’s how my pastry business started.”
The WOCCU class also emphasized the importance of obtaining a Registro Único de Contribuyentes (RUC), which later proved crucial in securing a credit line. “Having the RUC was important,” Maria Elena explains. “I learned about it early on when I started working in Ecuador, and it made getting a credit line easier.”
Maria Elena’s husband benefited from a loan for his table tennis club through Jardín Azuayo, a cooperative that she speaks highly of. “Jardín Azuayo has been very cordial and fraternal. You feel at home, normal. The people I went to treated me with inclusion, which was important. I liked the treatment, and they became friends as we got to know each other.” The Cooperative’s support was instrumental during their financial struggles, especially when her husband became severely ill and required two operations. After the second operation, he developed a serious infection that necessitated a $1,500 antibiotic treatment. “All our savings went to my husband’s health,” Maria Elena says. “We were in dire need of a loan, and Jardín Azuayo gave us a line of credit for $1,000, which was a lifeline. The manager called and told me about the credit, and after I finished thanking him, he said, ‘Listen, you can also help us by bringing really good clients.'”
Maria Elena continues to bake, earning $600-$700 per month, but her income decreases when she cares for her husband. “When I have less time due to taking care of him, my income lessens,” she explains. Despite these challenges, Maria Elena’s resourcefulness and resilience have allowed her to navigate the financial difficulties they face.
Her baking business, launched with the seed capital from WOCCU and credit from Jardín Azuayo, remains a crucial source of income. “The seed capital from WOCCU and the credit with Jardín Azuayo allowed me to buy a professional mixer, many tools to work with molds, a microwave cone, chocolate warmer, a fondant roller, the kitchen, and the fridge, because cakes need to be kept refrigerated. You can’t do it with the kitchen fridge.”
Despite their efforts to save, Maria Elena and her husband struggle with health insurance costs due to their age. Although her son is a health insurance broker, the policies remain unaffordable. They rely heavily on community support and credit lines to manage their expenses. “We really would love to have a health insurance policy, but they are too expensive because of our ages,” Maria Elena laments. “Even though my son is a health insurance broker.”
Maria Elena and her husband plan to stay in Ecuador. They have built a life and a network of support that has helped them navigate numerous challenges. Maria Elena’s resilience and resourcefulness exemplify the strength required to rebuild a life in a new country amidst adversity. “We are definitely planning to stay in Ecuador,” Maria Elena affirms. “The Cooperative has helped me with my life, and I started to gain more confidence. I was even proposed as a candidate to be a delegate of the cooperative, elected to the credit committee, and chosen as president. They helped me with my life, and I started to gain more confidence.”