Update on Paula KattyThe members of the “Progreso Del Mar” (Progress of the Sea) communal bank meet every two weeks in the beautiful San Mateo spa in the city of Manta, known for its beautiful beaches which are visited by national and foreign tourists year round. Most of the people here fish or perform other labors of the sea.
Here we meet Paula. She’s 50 years old, married and as a result has four adult children and one 14 year old. Three of them still live at home, two attend university, and the youngest is in school. Her husband is a fisherman, but he’s ill and not currently working.
In order to be able to earn some money on her own and help her husband with the household expenses, Paula sells all types of clothing door to door and also out of her home, where she has some display cases to offer her products. She goes out to sell four days a week and on the weekends she sells from her stall where the tourists visit. She sells for cash or offers credit to her best customers and collects every week. She buys her merchandise in Guayaquil based on what she needs. She’s been doing this for three years and things are going well.
Paula started with the money from the first loan she got through the institution. She will use the money from this loan to buy clothing, especially children’s uniforms and undergarments. She’s been a part of the communal bank for three years, and she enjoys it because it provides loans. She hopes that her husband will get well and that he is able to return to his labors of the sea. It’s difficult for her to pay all the expenses herself.
En este lugar vive la señora Paula, tiene 50 años de edad, está casada y de esta relación tienen cinco hijos, cuatro de ellos ya mayores de edad y el menor tiene 15 años, tres de ellos aun viven en su casa, dos estudian en universidad y el menor en colegio. Su esposo se dedica a la pesca pero actualmente está enfermo y no trabaja.
Ella para ganar algo por su cuenta y con esto ayudar a su esposo a cubrir los gastos de la casa, se dedica a la venta de ropa de todo tipo, su forma de venta es puerta a puerta y también vende en su casa donde tiene unas vitrinas para ofrecer sus productos, ella sale a recorrer cuatro días a la semana y los fines de semana vende en su local, vende al contado o deja a crédito a sus clientes más conocidos. Tiene tres años que se dedica a esta actividad y le va muy bien, ella empezó con el primer crédito que recibió de la institución.
Está repitiendo el crédito ya que le fue muy bien en su negocio sobretodo en los días de inicio de clases que vendió mucho, sus ganancias fueron muy buenas y que le sirvieron para los estudios de sus hijos ya que tuvo muchos gastos pero gracias al crédito pudo solventar. Este crédito lo va emplear en comprar ropa en general pero sobretodo uniformes y ropa interior para niños. Está en el Banco Comunal desde hace tres años y le gusta por la ayuda que le brindan los créditos.
Su sueño es que su esposo mejore y vuelva a sus faenas del mar ya que es muy difícil solventar los gastos ella sola.
Previous Loan DetailsThe members of the “Progreso Del Mar” communal bank meet every two weeks in the beautiful San Mateo spa in the city of Manta, known for its beautiful beaches which are visited by national and foreign tourists year round. Most of the people here fish or perform other labors of the sea. Here w... More from Paula Katty'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
- Jul 27, 2012
- Aug 13, 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.