Update on Edith MagdalenaThe “Jaime Roldos” communal bank meets every 15 days in Jaramijo Canton. This place is known for its beautiful beaches. Most residents here are very hardworking and dedicated to tasks related to the sea.
Edith, 33, lives here. She’s in a common law relationship and has four children who are 15, 12, 11 and 2 years of age. The three older ones attend school, two go to secondary school and the other one is in elementary school. Her husband’s a carpenter.
She is a housewife who in order to earn her own resources sells Avon products (beauty products, cosmetics, perfumery and women’s accessories). She sells door to door and works the three last days of the week. She sells on credit and collects payment every 8 days. She tells us that she takes advantage of special offers because they produce higher profits when she resells them at regular prices thus earning more that way. What she sells the most is perfume and cosmetics. She’s been in this line of work for three years and she does very well.
She is repeating her loan in the bank and she tells us that with the one she got before she was able to buy certain things needed for her children’s schooling since the school term has started and if it weren’t for that they wouldn’t have been able to attend school because what her husband earns doesn’t stretch far enough for this. She wants this loan to buy perfume, creams, cosmetics and costume jewelry.
This is her fifth cycle in the communal bank and she likes it because the payments are easy to make. Her dream is to own a boutique.
En este lugar vive la señora Edith, tiene 33 años de edad y mantiene una relación de unión libre de la cual tiene cuatro hijos de 15, 12, 11 y 2 años de edad, los tres mayores estudian dos en colegio y el otro en escuela. El marido es carpintero.
Ella es un ama de casa que para obtener sus propios recursos se dedica a la venta de productos Avon (productos de belleza, cosméticos, perfumería y accesorios para damas). Su forma de venta es puerta a puerta y trabaja los últimos tres días de la semana, deja sus productos a crédito y cobra cada ocho días. Nos cuenta que aprovecha las ofertas que hay ya que estas le dejan mejores ganancias ya que luego las vende al precio normal y así gana más, lo que más vende son los perfumes y cosméticos. Tiene tres años que se dedica a esta actividad y le va muy bien.
Ella está repitiendo su crédito en el Banco y nos cuenta que con el que recibió logro comprar ciertas cosas necesarias para el estudio de sus hijos que ya iniciaron su periodo escolar y si no fuera por eso ellos no podrían estudiar, ya que lo que gana su marido no les alcanza para esto. Este crédito lo quiere utilizar para comprar perfumes, cremas, cosméticos y bisutería. Este es el quinto ciclo en el Banco Comunal y le gusta porque los pagos son fáciles de hacer.
Su sueño es tener una boutique.
Previous Loan DetailsThe communal bank Jaime Roldos meets every 15 days in the Jaramijo (Manta) canton, this place is known for its beautiful beaches that bathe the coasts of this beautiful place. Here, the majority of inhabitants are very hard-working and work in tasks of the sea. In this place lives Edith, she ... More from Edith Magdalena'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
- 6 months (Additional Information)
- Repayment Schedule
- Apr 13, 2012
- Apr 27, 2012
- Currency Exchange Loss:
- Sep 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.