Update on ReinaldoReinaldo is a 48 year old man living with his family in a community in the south of Costa Rica located in Concepción de Pilas, Puntarenas. The local economy is based on farming and livestock raising where planting tubers, coffee, corn, beans and cattle raising predominate.
Reinaldo is asking for a one-million colones loan (¢1.000.000) to provide crop maintenance to the bean crops and to buy some farm tools he needs. He needs to buy farm supplies like manure and fungicide to protect his bean crops from damage. He will also increase the capacity the soil has for absorbing nutritional elements and with the fungicides he’ll use thanks to this loan he will also manage to avoid fungal growth in his plants so that they can be consumed safely. In addition, he will provide quality products to his customers, will reach the production goals he’s set for himself and on the other hand will help his family economically.
Reinaldo is a member of the La Danta S.A. communal bank, one of Costa Rica’s 150 communal credit firms.
Reinaldo está solicitando un préstamo de un millón de colones (¢1.000.000), para darle mantenimiento a su cultivo de frijoles y para comprar algunas herramientas agrícolas, necesita comprar insumos agrícolas como abono y fungicidas para proteger sus cultivos de frijol de cualquier daño . También aumentará la capacidad que posee el suelo de absorber los distintos elementos nutritivos y con los fungicidas que utilizará gracias a este préstamo también logrará evitar que aparezcan hongos en sus plantaciones, para que luego sean consumidos con toda seguridad. Además brindará productos de calidad a sus clientes, alcanzará la meta de producción que se ha propuesto, por otra parte ayudará económicamente a su familia.
Reinaldo es socio de la Empresa de Crédito Comunal de la Danta S.A, una de las 150 empresas de crédito comunal de Costa Rica.
Previous Loan DetailsReinaldo is a farmer who is well-known in the District of Pilas in Pérez Zeledón. He has a farm where he grows corn and beans. However, he wants to secure and improve production. Even though demand for his products is high, competition still exists. For this reason, he is requesting a loan of... More from Reinaldo's previous loan »
More information about this loan
As a small and relatively young MFI located in Costa Rica, EDESA has difficulty attracting other sources of capital. Many other microfinance funders do not work in Costa Rica, because overall the country is too rich. However, organizations such as EDESA work with extremely marginalized populations in Costa Rica that really need the access to capital that EDESA provides. By funding EDESA, Kiva lenders are allowing the organization to grow and reach more people than they otherwise would be able to reach.
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
- 15 months (Additional Information)
- Repayment Schedule
- Mar 26, 2012
- Mar 31, 2012
- Currency Exchange Loss:
- May 17, 2013
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.