Update on Clara LuzClara is a member of the “Nuevos Horizontes” (New Horizons) communal bank. She lives in Cuenca, a city bathed by the waters of four rivers. Its architecture is a mix of the colonial and the modern. Its people are friendly, polite and warmhearted.
Clara is 70 years old and the single mother of three daughters who are all married. Two of them live independently and one lives with her, sharing household expenses. They do not own their house, so they rent.
Clara sells clothes and other items which she buys in the neighboring country of Peru. But the last time, her business there did not go very well, as they took away her merchandise and did not return it.
She has been doing this work for approximately 36 years, and it has allowed her to help her household be financially solvent.
She was delayed in paying back her loan because of the loss of her merchandise, but as she is a woman who works with determination, she has managed to pay off her loan completely.
She is going to use her new loan to buy clothing and housewares for the Christmas season. She likes the communal bank, as at each meeting, she is with her friends with whom she discusses various subjects of interest.
Doña Clara tiene 70 años de edad, es madre soltera de 3 hijas quienes son todas casadas, 2 de ellas viven independientes y una vive en su casa compartiendo los gastos del hogar, no tienen casa propia por lo que vive arrendando.
Ella se dedica a la venta de ropa y más artículos los que compra en el vecino país del Perú pero ultima vez no le fue muy bien en su negocio ya que le quitaron su mercadería y no le devolvieron, esta actividad la desempeña más o menos 36 años y le ha permitido ayudar a la solvencia económica de su hogar.
En la cancelación de su crédito se atrasó por la pérdida de su mercadería pero como es una mujer luchadora con su trabajo ha logrado realizar la cancelación total de su deuda. Su nuevo crédito lo va a invertir en la compra de ropa y artículos de bazar para la temporada de navidad. La banca comunal le gusta ya que en cada reunión se encuentra con sus amigas con quienes platica de varios temas de su interés.
Previous Loan DetailsClara is a member of the “Nuevos Horizontes” (New Horizons) communal bank. She lives in downtown Cuenca, a city noted for the beauty of its historic city center which blends the colonial with the modern and which led to it’s being designated a Cultural Heritage of Humanity in December, 1999.... More from Clara Luz'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
- Oct 24, 2012
- Dec 1, 2012
- Currency Exchange Loss:
- May 17, 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.