Update on Norma ElizabethNorma, 30, lives in Guayaquil; she’s a single mother and is living with her two children. She started out selling products via catalogues thanks to a cousin’s initiative. She works alone offering her products to her friends and neighbors in Las Orquídeas. She does not have a fixed work schedule. She tells us that the most difficult season for her work is winter because her visits decline due to the rain. Her greatest fear is illness especially in this time because she has no help from family members. She will use the loan to buy perfume, make-up and clothes. Her dream is to buy a house of her own.
Empezó a vender productos por catálogos por iniciativa de una prima. Trabaja sola ofreciendo sus productos a sus amistades y vecinos en las Orquideas. No tiene horario fijo. Nos cuenta que la época más difícil de su negocio es el invierno ya que disminuye sus visitas por la lluvia. Su mayor temor son las enfermedades sobre todo en esta época porque no tiene ayuda de familiares. El préstamo lo utilizaría para comprar perfumes, maquillaje y ropa. Su sueño es comprar una casa propia.
Previous Loan DetailsNoma is 29 years old. She is a hard-working woman who sells personal products to her friends and acquaintances in an urban area called Orquídeas. Owing to a lack of opportunities and the need to support her two children since she is a single mother, Norma has been working for years selling cr... More from Norma 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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- Repayment Term
- 16 months (Additional Information)
- Repayment Schedule
- Apr 14, 2012
- May 2, 2012
- Currency Exchange Loss:
- Jun 1, 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.