Update on CinthyaCinthya is still selling her home-baked bread and pastries. She wants to strengthen her food-selling business with this loan. She always does the household chores and three times a week she makes bread, pastries, and at night she makes fast foods. With her previous loan she bought equipment and stocked up on raw materials. With this new loan she will stock up on raw materials and food preparation products.
She has future plans to set up shop in the urban center of Turrialba with a bigger food business and to create jobs. With her earnings she will be able to build her own home and pay for her children's education. She dreams of seeing her children become professionals so they will have a better life.
She managed her previous loan well considering her limitations and the circumstances in which she works. Her business has increased since her previous loan.
Tiene como planes a futuro poder instalarse en el centro urbano de Turrialba, con un negocio más grande de comidas , generar empleo.Con las utilidades poder construir su casa propia y apoyar el estudio de sus hijos, ella sueña con ver a sus hijos profesionales, para que puedan vivir mejor.
Logra hacer una buena gestión del crédito anterior dentro de sus posibilidades y considerando las características del contexto en el cual se desarrolla su actividad, marca un crecimiento en sus activos con respecto al crédito anterior.
Previous Loan DetailsCinthya lives with her husband and two children. The oldest is in elementary school and the youngest is four years old. They live in Turrialba, in the community of Colorado, which lacks wage-earning jobs, so the majority of the residents are independent workers. Upon not having anyone to car... More from Cinthya's previous loan »
More information about this loan
In Costa Rica, funding for microfinance institutions is hard to come by, and many institutions find themselves having difficulty growing and reaching all the demand for loans that exist. Kiva works with Fundacion Mujer because it attends a very marginalized population in Costa Rica, with a specific focus on women. In addition to the loan, Fundacion Mujer provides specialized training programs for their borrowers on everything from computer classes to salon training. Because of the difficulty in obtaining capital in Costa Rica, Fundacion Mujer cannot serve all the women that need loans. Therefore Kiva plays a unique role in helping Fundacion Mujer grow its portfolio and reach borrowers it otherwise would not be able to.
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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- Repayment Term
- 20 months (Additional Information)
- Repayment Schedule
- Jun 6, 2013
- Jun 15, 2013
- Currency Exchange Loss:
- Mar 12, 2015
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.