Update on Víctor GiovannyVíctor needs to continue growing and succeeding. He wants to invest in the lubricant business. That is why he has been motivated to get a new loan. He will use the loan to invest in lubricants for automobiles. This will help him to maintain a stable business. This is necessary in order to keep his customers satisfied.
The previous loan helped him finish paying for a motorcycle. He now tends to this business, and he hopes to continue his success.
El préstamo anterior le ayudo a complementar el pago de una motocicleta, hoy en día se encuentra atendiendo este negocio y espera seguir superándose.
Previous Loan DetailsVíctor lives with his wife and four year-old daughter. He is employed at a gas station and has been working there for one year. He uses his salary to help his wife cover their family's most urgent needs. He is now requesting a loan to buy a motorcycle, as it will help him to get from his home to… More from Víctor Giovanny'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
444View loans »
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Mar 15, 2012
- Apr 16, 2012
- Currency Exchange Loss:
- May 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.