A Bakery Growing in the Community
33 years ago Josefina Figueroa Rigas started a bakery that she named “Panadería Chazumba” in Oaxaca, Mexico. The location was small, with only a single wood stove for all the baking, yet, despite these challenges, Josefina persevered. After 25 years, Josefina and the other women involved in the bakery, faced an increasingly difficult financial situation. Thankfully, at this point Josefina came into contact with FINCA Mexico officers, who offered to provide a small group loan that would Panadería Chazumba afloat.
From this initial loan followed a series of small loans, that Josefina and the other women have used over the past 8 years to invest and reinvest in equipment and baking supplies in order to expand the bakery, increase output and profits. Josefina manages the loans for the group, which has had as many as 22 women involved, and thanks FINCA for helping her to keep improving her business,
“growing and expanding within [her] chosen line of work.”