Update on Julio AlbertoThanks to his first Kiva loan, Julio has been able to grow his bakery so that it has been transformed into a mini-market. He is selling not only bread, but also rice, sugar, flour and other supplies for daily life. Before he received his first loan, he sold out of a basket on the street. In his mini-market, Julio continues to enjoy the support of his wife. They have no children. His big goal in life is to continue growing his business so he can offer his family a better life.
En su mini-tienda, Julio sigue disfrutando de la ayuda de su esposa. Los dos no tienen hijos.
Su gran meta en la vida continua ser el crecimiento de su negocio para asi ofrecer una mejor vida a su familia.
Previous Loan DetailsJulio, age 29, is a man who is very enthusiastic about his work. He recently opened a bakery because he knows how to prepare bread and related products. Currently, he works from the early hours of the morning preparing and baking bread while his wife helps him with the sales. Julio has a lot of h... More from Julio Alberto's previous loan »
About Banco D-MIROBanco D-MIRO is a microfinance institution that serves the most vulnerable sectors of Ecuador’s economy. It offers very small loan sizes without requiring collateral, expanding access to borrowers who would not otherwise be able to access capital to start and grow their own businesses. It also specifically targets borrowers who are excluded from formal financial systems due to race, ethnicity, gender, disability or illness.
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.
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Success!! The loan was 100% repaid
- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Nov 17, 2011
- Dec 13, 2011
- Currency Exchange Loss:
- Oct 15, 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.