Update on KattyDoña Katty is a 42-year-old borrower. She is divorced and has four children, of whom only one lives with her. She is very hard-working and has an entrepreneurial vision. She has a considerable history with the foundation and has always been characterized by her responsibility and punctuality. She has a pizzeria in her own house, located at a good spot in the community. She and one of her daughters are the ones who work in the business. She has contracts for special occasions with associations of various banana workers in the area. Now she needs to invest in some equipment to improve the quality of her express service.
Previous Loan DetailsKatty H. P. is a 40-year-old mother of four who lives with her husband and sons in Batón, Limón, located near the Caribbean coast of Costa Rica. Katty owns a pizzeria where she prepares and sells pizza as well as other fast food items. Katty´s pizzeria is located in a busy location, in the same… More from Katty's previous loan »
More information about this loan
In Costa Rica, funding for microfinance institutions is hard to come by, and many institutions find themselves having difficulty growing and reaching all the demand for loans that exist. Kiva works with Fundacion Mujer because it attends a very marginalized population in Costa Rica, with a specific focus on women. In addition to the loan, Fundacion Mujer provides specialized training programs for their borrowers on everything from computer classes to salon training. Because of the difficulty in obtaining capital in Costa Rica, Fundacion Mujer cannot serve all the women that need loans. Therefore Kiva plays a unique role in helping Fundacion Mujer grow its portfolio and reach borrowers it otherwise would not be able to.
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