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Norma Margarita

Update on Norma Margarita

The communal bank "Jardín de la Artesanía" meets every 15 days in the Montecristi Canton, known for its rich pre-colonial culture and craft work on both a national and international level. The place is also known for its famous straw hat.

This is where Norma, 61, lives. A few years ago, her beloved husband passed away, but from this relationship she has seven children, who are already grown and independent.

Norma works for the municipality but also has a small grocery store she runs from home. When she is at work it is her daughter who takes care of the store. Her mother pays her a monthly salary.

Norma is taking out another loan to finance the business so she can earn money to get ahead on her own. By buying more products she has attracted more customers since they can find what they need. This loan is to buy groceries.

She has been a member of the communal bank since the beginning and likes the help the loans give. Her dream is to continue expanding her business.
View original language description ↓
EL Banco Comunal Jardín De La Artesanía se reúne cada quince días en Cantón Montecristi, conocido por su rica cultura pre colonial y por su artesanía, que es reconocida a nivel nacional e internacional. Lugar de los famosos sombreros de paja toquilla.
En este lugar vive la señora Norma, tiene 61 años de edad, hace varios años su querido esposo falleció pero de esta relación tienen siete hijos los mismos que ya son mayores de edad e independientes.
Doña Norma trabaja en un Municipio de la localidad pero también tienre una pequeña tienda de víveres en su casa, cuando ella esta trabajando su hija es que se encarga de atender la tienda y su mamá le paga un sueldo mensual.
Ella está repitiendo el crédito ya que es su forma de financiar su negocio y con sus ganancias salir adelante ella sola, ella compro más productos con los cuales ha ganado clientela ya que cada vez sus clientes encuentran lo que necesitan. Este crédito es para comprar víveres. Esta desde el inicio en el Banco Comunal y le gusta por la ayuda que le brindan los créditos. Su sueño es seguir aumentando su negocio.

Previous Loan Details

The communal bank "Jardín De La Artesanía" ["Handicrafts Garden"] meets every fifteen days in the canton of Montecristi, which is known for its rich pre-colonial history and for its handicrafts, recognized on the national and international levels. It is the home of the famous hats made of paja to... More from Norma Margarita's previous loan »

Additional Information

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.

About Ecuador

  • $10,200
    Average annual income
  • 45
    View loans »
    Ecuador Loans Fundraising
  • $23,087,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $975 helped Norma Margarita to buy groceries.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Oct 23, 2013
Nov 18, 2013
Currency Exchange Loss:
Mar 17, 2014