Update on GerardoGerardo is requesting a new loan because it is time to gather in his harvest and he needs to pay laborers so that he can have it ready, sell it and buy cattle to raise. This will enable him to obtain more income which will help his family. His previous loans helped him to obtain the fertilizers he needed for his crops and this year they were abundant thanks to the support of our institution which gave him the support he needed.
Los financiamientos anteriores le ayudaron porque obtuvo los fertilizantes necesarios para sus cosechas y este año fueron abundantes gracias al apoyo de nuestra institución que le brindo el apoyo necesario.
Previous Loan DetailsGerardo resides in El Transito in the Department of San Miguel. He grows corn and raises cattle. Gerardo lives with his wife and two children, ages 26 and 28. He has worked for many years and learned his trade from his father. Today he has his own farmland that helps to support his family. ... More from Gerardo'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 27, 2011
- Jan 7, 2012
- Currency Exchange Loss:
- Jul 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.