Update on CarmenCarmen is 52 years old, she lives with her partner and they have two sons. She has selling products for the last six years, Carmen says that a relative started her in the business, she enjoyed it and decide to keep doing it. Carmen has been selling through catalogs for the last six years and she has a portfolio of recurring clients, last year she took a loan and payed on time, now Carmen is asking for a second loan to buy shoes, clothes to sell in the back to school season. She says that she has shown that she is credit worthy because she always pays her loans on time. Her goal is providing the best life for her sons.
Previous Loan DetailsCarmen is a Kubo Financiero client and this is her story. She is 52 and lives in a common-law marriage. She has been working in selling for 6 years. A family members introduced her to the business of selling catalogue items such as shoes, kitchen utensils and household items, and she liked this ... More from Carmen'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.
8View loans »
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Jun 26, 2014
- Jul 16, 2014
- Currency Exchange Loss:
- Jan 17, 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.