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Marcela

Update on Marcela

Marcela invested in her flower business and payed her first loan on time. Now she is asking for a second loan to continue investing in her business. She is focused on making her business grow and spending time with her family. She is conscious of the importance of paying her loans on time and improving her credit score.
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Marcela invested in her flower business and payed her first loan on time, now she is asking for a second loan to continue investing in her business, she si focused on making her business grow and spending time with her family. She is conscious of the importance on paying her loans on time and improving her credit score.

Previous Loan Details

Marcela is a client of Kubo Financiero and this is her story:

“My name is Marcela. I am 44 years old and have been married for 19 years. I have two children, ages 19 and 15. In addition, I am the youngest of six sisters. I am currently living at my parents’ house even though I have... More from Marcela'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.

Tags

About Mexico

  • $11,249
    Average annual income
  • 51
    View loans »
    Mexico Loans Fundraising
  • $18,367,975
    Funds lent in using Kiva
  • 13.1
    Mexico Pesos (MXN) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,925 helped Marcela to buy a variety of flowers.
85% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 11, 2014
Listed
Aug 19, 2014
Currency Exchange Loss:
Possible
This photo was used before for a previous loan for Marcela. It was first posted on Kiva on Jan, 2014. Learn More