Update on Miguel AngelMiguel is seeking a new loan so that he can invest in his business. He plans to buy a number of chicks as well as chicken feed so that he can raise the birds. This will allow him to expand his operations and to continue raising chickens.
He reports that the previous loan enabled him to obtain everything he needed to grow his business. His family's circumstances are improving, since his increased income has allowed him to create more stable conditions.
El manifiesta que el préstamo anterior le permitió crecer y tener lo necesario para trabajar, sus circunstancias familiares están mejorando, pues considera recibir mejores ingresos los cuales le permiten crear una condición más estable.
Previous Loan DetailsMiguel lives with his wife and children. He has a poultry business, which he started himself due to the necessity of increasing his income. He doesn't have a fixed schedule. Miguel is applying for this loan to buy more chickens to raise, and later sell them; in this way, he will be able to mak... More from Miguel Angel'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
- Jun 27, 2012
- Jul 17, 2012
- Currency Exchange Loss:
- Jun 18, 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.