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Norma

Update on Norma

Norma is a small entrepreneur and Kubo Financiero’s client, and this is her story:

Norma is 40 years old, is married and has three children. She owns a beauty salon which has been open for 18 years now.

At her salon she offers haircuts, color dying, nails, plucking, hairdos, makeup, pedicure, manicure, eyebrows and eyelashes to her clients; which are mainly women. She asks for this loan to renew her working equipment, specifically dryers, scissors, irons, tongs and shampoo required in the salon.

Thanks to the effort she puts into her work Norma has achieved various goals, including building her house and furnishing it, going on vacation, renewing her car and generally enjoy a good standard of living.
View original language description ↓
Norma is a small entrepreneur and Kubo Financiero’s client, and this is her story:

Norma is 40 years old, is married and has three children. She owns a beauty salon which has been open for 18 years now.

At her salon she offers haircuts, color dying, nails, plucking, hairdos, makeup, pedicure, manicure, eyebrows and eyelashes to her clients; which are mainly women. She asks for this loan to renew her working equipment, specifically dryers, scissors, irons, tongs and shampoo required in the salon.

Thanks to the effort she puts into her work Norma has achieved various goals, including building her house and furnishing it, going on vacation, renewing her car and generally enjoy a good standard of living.

Previous Loan Details

Norma is a Kubo Financiero client and here is her story: Norma is 40 years old, married, and has two children. She works in a beauty salon that she started 18 years ago and she does haircuts, bases, nails, tweezing, tints, highlights, hairstyles, makeup, pedicures, manicures, and eye lashes. ... More from Norma's previous loan »

Additional Information

About Kubo.financiero

Kubo.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.

About Mexico

  • $11,249
    Average annual income
  • 12
    View loans »
    Mexico Loans Fundraising
  • $17,551,825
    Funds lent in using Kiva
  • 12.9
    Mexico Pesos (MXN) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,175 helped Norma to buy beauty supplies.
99% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2014
Listed
Jul 2, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014
This photo was used before for a previous loan for Norma. It was first posted on Kiva on Dec, 2013. Learn More