Update on Maria TeodoraMaria, a trader living in the region of Las Canoas, Teustepe, is thankful for the opportunity that Kiva is providing. This loan is giving her the chance to sell a little more and to have more customers. The school year is about to start and demand for school uniforms is high. For this reason, she needs money to buy skirts, trousers, shirts, blouses and underwear for children and adults. Her goal is to offer a bigger variety of clothes and cosmetics, including items for the home and to attract more customers from different regions.
Previous Loan DetailsMaría is 57 years old. She lives in a town called Las Canoas, Teustepe. She only finished elementary school. She is married and the mother of 4 children, all of them grown. She has sold clothes for 10 years. She started the business with loans she would take out from other institutions. They… More from Maria Teodora'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