Update on Marjorie AlexanderThe “Virgen Del Rosario” communal bank meets every two weeks in Colorado, Montecristi Canton (Portoviejo) known for its Rich pre-colonial culture and for its crafts that are famous both nationally and internationally. In this area most residents make tagua nut [known as vegetable ivory] buttons, crafts and commerce in general.
Marjorie lives here. She just turned 22 years old and is in a common law relationship and has two children who are 3 and 1 year old. Her husband is a craftsman.
She is taking out the loan to help her husband in his business. He has a small tagua button factory and she will use part of the loan to start a clothing sales business because she wants to take advantage of the approaching season which included the Montecristi feast days as well as Christmas and New Years, seasons when these products sell a lot. She will use the loan to buy tagua and all sorts of clothes. She’s been in the communal bank for five cycles and she likes it because of the help they give with the loans.
She is repeating the loan with Kiva and she’s asking for it to improve her husband’s business and to have the opportunity to start her own business and to buy clothes to sell. The previous loan helped them quite a bit because they were able to buy a lot of raw materials to have some in reserve when it became scarce and became more expensive. With respect to her family life, it too has improved because when economic problems decrease everything is easier to bear. They hope to continue forward to be able to build a house of their own.
En este lugar vive la señora Maryorie, tiene 22 años de edad recién cumplidos y mantiene una relación de unión libre de la cual tiene dos hijos de 3 y 1 año de edad. El marido es artesano.
Ella realiza el crédito para ayudar a su esposo en su negocio el cual tiene una pequeña fábrica de botones de tagua, y ella con parte de este crédito va a empezar con el negocio de venta de ropa ya que quiere aprovechar la temporada que se avecina, pues son las fiestas de Montecristi y además ya están próximas la fiestas de Navidad y Año Nuevo, temporadas en la que se vende mucho estos productos.
Este crédito lo va a utilizar en comprar tagua y ropa de todo tipo. Está en el Banco Comunal desde hace cinco ciclos y le gusta por la ayuda que le dan con los créditos.
Ella está repitiendo el crédito con Kiva y lo solicita para mejorar el negocio de su esposo y para tener la oportunidad de empezar con su negocio propio y comprar ropa para vender, el crédito anterior les ayudo mucho ya que lograron comprar bastante materia prima y tener reserva para cuando escaseo y se puso más caro este material, en cuanto a su vida familiar también mejoro ya que al no tener muchos problemas económicos todo es más fácil de llevar.
Esperan seguir adelante para poder construir su propia casa.
Previous Loan DetailsThe Virgin del Rosario Communal Bank meets every 15 days in Colorado, Montecristi canton, known for its rich pre-colonial culture and handicrafts which are recognized at the national and international level. The majority of the local inhabitants make “tagua” buttons, handicrafts, and are engaged in… More from Marjorie Alexander's previous loan »
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
- 8 months (Additional Information)
- Repayment Schedule
- Nov 16, 2011
- Nov 20, 2011
- Currency Exchange Loss:
- Jun 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.