Update on Maria RitaMaria Rita is a Kubo Financiero client and this is her story.
My name is Rita and I am 43 years old. I have been married for 24 years and I have three children and one granddaughter. I have made a living selling cosmetics for 24 years. I like sales and I also like to dance.
I requested this loan to purchase seasonal merchandise as the best sales period of the year is coming up. My business is composed of catalog sales and as I have been making sales for 24 years, I know all of my customers and they recommend me to their friends and relatives. I have a portfolio of approximately 100 customers. My main achievement is having won several awards for high numbers of sales.
Me llamo Rita y tengo 43 años, soy casada desde hace 24 años, tengo tres hijos y una nieta.
Me dedico a la venta de cosméticos desde hace 24 años. Me gustan las ventas y también me gusta bailar.
Solicitó el crédito para comprar mercancía de temporada ya que viene mi mejor epoca de ventas en el año.
mi negocio es ventas por catalogo, como ya tengo 24 años vendiendo, mis clientes ya son todos conocidos y ellos me recomiendan con sus familiares y amigos , tengo una cartera de aproximadamente 100 clientes. Mis principales logro es haber ganado varios premios por tener ventas altas.
Previous Loan DetailsMaria Rita is a Kubo Financiero client and this is her story. My name is Rita, I have been married for 24 years and have three sons. I live with my mother-in-law, enjoy sales and also like to dance. My business is catalog sales, which I have been doing for the last 24 years. I have a portfolio… More from Maria Rita's previous loan »
About Kubo.financieroKubo.financiero is a regulated microfinance institution that provides accessible and affordable loans to borrowers in Mexico. Its online banking platform and other innovations enable Kubo to charge interest rates that are much lower than the average for MFIs in Mexico. By doing business in a new way -- leveraging technology and customized risk profiles -- the organization is able to support microfinance clients throughout the country. With funds from Kiva lenders, Kubo is able to expand its lending network even further, reach riskier clients who have less credit history, decrease interest rates for borrowers, and scale its service area.
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
- 13 months (Additional Information)
- Repayment Schedule
- Oct 31, 2013
- Nov 6, 2013
- Currency Exchange Loss:
- May 19, 2014
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.