Last year, I made a couple of small loans through Kiva, on the basis that having escaped the hospital without going bankrupt due largely to the kindness of friends, I was due for some forward-paying. One of those loans has been completely paid back, the other more than halfway, so I sprang for a third. Carmen Josefina is 55, lives with her husband in Portoviejo, Ecuador, and this is what she does:
She is a great housewife, who in order to obtain her own resources works in artisanal crafts and as a merchant. She makes flowers out of fabric, cushions for furniture, and Christmas decorations with a lot of designs. She makes these handmade items to order or to sell to the public. She has been doing this activity for more than 20 years, and thanks to it, she helped her children get ahead.
This loan is to buy more raw materials for all of the products she makes. She likes it because with the loans, she has gotten a lot of help to continue with her business. Her dream is to have good health to keep going forward.
She asked for $1325 over eight months. As is typical with Kiva, there is a Field Partner, in this case an Ecuador-specific charity operation reporting a default rate (on 22,000 loans) of 0.11 percent.