Update on Fredis ArmandoFredis is once again asking for a loan to keep his business going and to increase his business capital and to buy necessary materials like wood, planks, and paint, to be able to make furniture to sell.
He says that he used the last loan very well, since he put it all towards his business and was able to make the furniture for his customers on time. It helped him because he made a good profit as payment for his work.
El manifiesta que con el préstamo anterior le fue muy bien pues lo invirtió todo en su negocio y pudo entregar los muebles a tiempo a los clientes, le ayudo porque fueron buenos ingresos los que recibio como pago de su trabajo.
Previous Loan DetailsFredis is a carpenter and lives with his family. He has been making furniture for seven years. His work schedule is from 7:00 a.m. until 5:00 p.m. He learned his trade when he worked as an employee at a carpentry shop. At the moment, he needs a loan to cover the expenses of wood and paint, which… More from Fredis Armando'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
- Feb 25, 2012
- Mar 12, 2012
- Currency Exchange Loss:
- Nov 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.