Update on Silvana ElizabethSilvana is a 30 year old woman and she has many aspirations for the coming years, one of them being that her bazaar and clothing business prospers. She started her business with capital that her mother gave to her. She runs her business from her house and decided to put her bazaar there, as there are many schools close by. She works alone, from seven in the morning til nine at night. She has trouble with crime in the area. She is not married and doesn't have any children. Her most important dream is to obtain a shop on the bay to sell clothes and have her own home. She wants to use the loan to buy shoes, office supplies and stationary for her bazaar and clothing shop.
Previous Loan DetailsSilvana is 29 years old. She is an enterprising young woman who, since her father died, has worked in a stationery store that he bought so that his daughter could work. She has been working in the store that her dad left her and has invested the profits that she has made in buying stationery… More from Silvana Elizabeth'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
- Feb 14, 2012
- Mar 11, 2012
- Currency Exchange Loss:
- Mar 15, 2013
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.