Update on Gerardo OswaldoGerardo needs to get his motorcycle taxi repaired. He is requesting a new loan to pay the mechanic and buy the spare parts required. He resolved to request the loan because he has a good credit history, and he does not have the money to pay for the repairs himself.
He is grateful for the opportunities he has received with these loans. Thanks to them, he has been able to buy tires and pay for other expenses also related to the motorcycle taxi.
Él está agradecido por la oportunidad que ha tenido con estos préstamos, ya que compro llantas y otros gastos que le debía hacer a la moto taxi.
Previous Loan DetailsGerardo, is a young man who is 22 years old. He lives with his young wife and they have a 6 month old daughter. They live in San Rafael Oriente, departament of San Miguel. He works in a motorcyle taxi, transporting people to different areas in town. He has been working in transportation for one… More from Gerardo Oswaldo'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
- Nov 23, 2011
- Dec 10, 2011
- Currency Exchange Loss:
- Aug 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.