Update on María SoraidaMaría is asking Fundación Alternativa for a second loan. Due to circumstances out of her control, it was not possible for her to attend the training sessions they offer. However, the personal consultation they gave her has helped her a great deal in managing her business, which is growing every day. After strengthening her banana crops, María has acquired sufficient experience to expand planting on her land and to start out with a new and in-demand crop, cacao. That is why this time she will invest in seed, fertilizer, and supplies to grow this plant, which like all others needs care to produce quality fruit. This loan will improve her income and she will be able to re-plan her expenses, as she has a fourth baby on the way and it is absolutely necessary that he have the same opportunities as his siblings have had to study and to grow up in good conditions.
Previous Loan DetailsMaría is a young woman of 36, who has three children aged 10, 17, and 18. They live together in Santo Domingo, which is the fourth largest city population-wise in Ecuador. Its population is growing rapidly, and it has rich commerce and the largest livestock market in the country. It is located… More from María Soraida's previous loan »
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About Fundación AlternativaFundación Alternativa encourages entrepreneurship and provides sustainable financial and non-financial services that promote social and economic development in Ecuador. The organization focuses on serving poor and excluded populations through analysis of clients' living conditions and by providing business training and other support services in urban, rural and marginalized parts of the country.
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