Update on Julia CruzJulia, 68, runs a grocery store out of her home. She lives in an area where most of the residents are merchants. She began her store 30 years ago and, fortunately, it has gone well. She works every day from 8:00 a.m. to 4:00 p.m. selling rice, canned goods, beverages, grains, etc. Julia is a widow and feels blessed to have been able to raise her children who are now adults. Her aspirations for the future include having a larger well-stocked store so she can generate more income.
Hace 30 años empezó con su tienda y Gracias a Dios le ha ido muy bien. Trabaja todos los días desde las 08h00am hasta las 16h00pm vendiendo arroz, enlatados, bebidas, granos etc.
Julia es viuda y gracias a Dios ha podido sacar adelante a sus hijos que hoy en día son mayores de edad.
Sus aspiraciones para el futuro es que desea que su tienda este mas surtida y grande para producir un mayor ingreso.
Previous Loan DetailsJulia, age 68, sells provisions from a store in the front part of her house. She lives in an area called Suburbio de Guayquil where most of the residents work as merchants.
Thirty five years ago, this area did not have a store or any other place to buy provisions. For this reason Julia… More from Julia Cruz'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
- 15 months (Additional Information)
- Repayment Schedule
- Oct 31, 2011
- Nov 28, 2011
- Currency Exchange Loss:
- Dec 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.