Update on Victor ManuelVíctor is seeking a new loan with the intention of supplying his business. He will buy a variety of snacks, juices, bottled water, sodas, and personal hygiene products. This will be of great benefit as he will be able to expand his business and keep himself stocked with products that are in high demand.
He reports that his previous loan helped him to maintain his inventory in this way. His sales have been very good, and because of this he has been able to cover his household expenses. However, he believes it is now necessary to invest in his business again and make sure to keep offering this high level of service to his customers.
El manifiesta que el préstamo anterior le ayudó a mantener surtido el negocio, en su momento las ventas fueron abundantes de las cuales lograba sacar para el pago de los gastos del hogar, pero creía necesario en esta fecha volver a invertir para no descuidar ese del buen servicio los clientes.
Previous Loan DetailsVíctor lives with his wife and children (ages 11, 9, and 6). He sells water, soft drinks, juices, and cookies. Víctor started out working at a car wash, but he later established his own business 15 years ago so that he could begin making sales. His work schedule is from 6am to 4pm.
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
458View loans »
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- May 18, 2012
- Jun 13, 2012
- Currency Exchange Loss:
- Jul 13, 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.