Update on Heric HernanyHeric has decided on a new loan with the aim of increasing his products in order to sell to more customers. He will buy corn on the cob, lard, firewood and condiments to make the tamales. He hopes this new investment will bring many benefits to him, to the business and to his family. He feels that he had a good experience with the prior loan since it gave stability to his business and he was able to maintain an economically solvent condition with his family.
El considera haber tenido una buena experiencia con el préstamo anterior ya que le dio estabilidad al negocio y pudo mantener una condición solvente en lo económico con su familia.
Previous Loan DetailsHeric is 44 years old and lives in San Miguel together with his wife and 11 year-old son who is in school. Heric's family depend on him. His business is selling tamales, corn on the cob and 'atol' (a traditional, cornstarch-based hot drink). The business was born in the family. Heric started ... More from Heric Hernany'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
- 14 months (Additional Information)
- Repayment Schedule
- Dec 7, 2011
- Jan 3, 2012
- Currency Exchange Loss:
- Sep 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.