Rosa Del Pilar
Update on Rosa Del PilarThe Communal Bank "Virgen del Rosario" meets every 15 days in Colorado, which is located in the canton of Montecristi. This area is known for its rich pre-colonial culture and its handicrafts that are recognized on a national and international level. Most of the residents of this area engage in the manufacture of tagua buttons, handicrafts, and trade in general.
It is here that one can meet Sra. Rosa. She is 34 years old and a single mother of three children (ages 15, 13, and 11) who are attending school. Rosa lives at her parents' house. She has been with her Communal Bank for three loan cycles and enjoys the help that the loans have given her.
Rosa is an excellent homemaker, but she also generates her own income by manufacturing buttons out of tagua. She uses a lathe (a machine that cuts the tagua) for making buttons in crude form. The products are delivered to traders who come to her area to buy them before taking them to Manta, where they are shipped abroad for final processing. Rosa works every day and has been in business for almost two years.
She is repeating the loan process for the same business. During this past loan cycle, her business did not do very well because of the winter. She almost came away with no profits. Rosa hopes to recover with this new loan. Her business is currently improving with each passing day. Rosa says that her situation resulted in two delinquent payments, but she was able to get back on track so that she could continue receiving the loans that are very important to her. She will use the money to buy tagua, the raw material used for making the buttons. Rosa is now in her fourth loan cycle with her Communal Bank and enjoys the convenience of the payments. Her dream is to have a large factory with the latest technology.
Aquí conocimos a la señora Rosa, tiene 34 años de edad, es madre soltera de tres hijos de 15, 13 y 11 y años de edad que estudian en colegio y escuela. Ella vive en casa de sus padres. Lleva en el Banco Comunal tres ciclos y le gusta por la ayuda que le dan con los créditos.
Ella es una muy buena ama de casa que para generar sus propios ingresos se dedica a la fabricación de botones hechos en tagua, para lo cual tiene un torno (máquina para cortar tagua) con la que se elaboran los botones pero en forma cruda, productos que entregan en su sector a comerciantes que llegan hasta este lugar a comprar para luego llevarlas a Manta para que estos sean enviados al extranjero para que sean terminados. Trabaja todos los días y lleva en este negocio por casi dos años.
Ella está repitiendo el crédito y es para el mismo negocio ya que en este ciclo que paso el negocio no estuvo muy bueno por causa del invierno y casi no le quedo ganancias las cuales con este nuevo crédito espera recuperar ya que actualmente el negocio ha mejorado y seguirá mejor con el paso de los días, nos comenta que por esta situación tuvo dos atrasos en sus pagos pero que luego como pudo ella se puso al dia para así seguir recibiendo los créditos que para ella son muy importantes, ella va a comprar tagua que es la materia prima para la fabricación de los botones. Lleva cuatro ciclos en el Banco Comunal y le gusta por las facilidades de pago.
Su sueño es tener una fábrica grande con mayor tecnología.
Previous Loan DetailsThe “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. Most of the residents of this place manufacture tagua [nuts known as… More from Rosa Del Pilar'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
- May 16, 2012
- Jun 4, 2012
- 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.