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Hugo
Hugo was a driver in his native Ecuador so, when he moved to the States, it was a natural choice to continue in his profession, and he started his own high-occupancy van transportation business in 2000. One of the major costs of a business like Hugo's is constant maintenance of the vehicle fleet. Hugo was able to cover these costs with a credit card, but it was very costly and only a short-term fix.

Hugo used his first loan to do some maintenance on his van, but this loan served another purpose which was building up and improving his credit history. Now Hugo will be taking out a second loan to cover more maintenance costs, and he hopes to buy a second van soon.

Hugo is optimistic that he will be able to expand his business because his ACCION USA loans have improved his credit rating. He says he is grateful because he feels the loans have lifted him up economically, and he is now more financially comfortable than he would have been if he had kept using credit cards. In addition to buying a new van, Hugo wants to continue to keep his vans in great shape so they will stay functional for years to come.

About United States

  • $47,000
    Average annual income
  • 14
    View loans »
    United States Loans Fundraising
  • $10,955,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,500 helped Hugo to pay for van maintenance and inspection tags.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 30, 2009
Listed
Oct 19, 2009
Currency Exchange Loss:
N/A
Ended:
Feb 26, 2011