Update on Miguel AngelMiguel decided once again to have a loan because he plans to increase sales and have more customers. To do so, he will buy merchandise like pants, shirts, skirts, blouses and underwear aiming to have more variety available to offer his customers meeting their demand and particular tastes. Previous loans have helped him expand the business, to have more clientele and this advance helped him improve his family’s economic condition.
Los financiamientos anteriores le han ayudado a ampliar su negocio, tener más clientela, este avance le permitió mejorar las condiciones económicas de su familia.
Previous Loan DetailsMiguel is 45, and lives in the Transit municipality of San Miguel department. He is a single father and lives with his two-year old son. Migual sells clothes and housewares. Migual learned about business at a young age due to difficulty finding work. He sells his items walking around the… More from Miguel Angel's previous loan »
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 El Salvador
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Success!! The loan was 100% repaid
- Repayment Term
- 17 months (Additional Information)
- Repayment Schedule
- Oct 24, 2011
- Nov 9, 2011
- Currency Exchange Loss:
- Oct 16, 2012
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.