Update on Carmen MercedesDespite being a single mother, Carmen is a hardworking woman who has been able to get ahead with help of God. With her previous loan she was able to restock and increase her business, but not as much as she expected.
She is now requesting a new loan so that she can invest more into her business. In addition, Carmen wants to buy a shop so that she can expand her business.
Her dream is to finish the construction of her house 100%.
Con el préstamo anterior ha podido surtir su negocio e incrementarlo pero no tanto como ella esperaba.
Ahora ella solicita un nuevo préstamo para invertir más en su negocio, además ella quisiera comprar un local en donde podría expandir su negocio.
Su sueño es poder terminar su casa pero al 100%.
Previous Loan DetailsCarmen, 28, has a small stationery shop in the front part of her house. She lives in Primavera de Duran (a periurban area with disintegrating surroundings) in the outskirts of Guayaquil. She started three years ago because she always wanted to have her own business but hadn’t had the opportun... More from Carmen Mercedes's previous loan »
About Banco D-MIROBanco D-MIRO is a microfinance institution that serves the most vulnerable sectors of Ecuador’s economy. It offers very small loan sizes without requiring collateral, expanding access to borrowers who would not otherwise be able to access capital to start and grow their own businesses. It also specifically targets borrowers who are excluded from formal financial systems due to race, ethnicity, gender, disability or illness.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Oct 11, 2011
- Oct 21, 2011
- Currency Exchange Loss:
- Nov 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.