Update on Otilia ArgentinaOtilia is requesting a new loan to buy two sacks of corn, one “quintal” [1 quintal = 100 kg.] of potatoes, oil, firewood, bananas, milk, and sugar, among other materials needed for production in her business. This loan will give her the financial resources for her to continue working.
With the previous loan she managed to make a big investment because the price of the materials is less when buying wholesale. It gave her a better margin of income, and her family and their condition continues to be stable. She feels that her business is prospering.
Con el préstamo anterior logró realizar una gran inversión, ya que el precio de los materiales disminuye a comprarlo por mayor, le dio un mejor margen de ganancia, su familia y su condición continúan estable y considera que su negocio está prosperando.
Previous Loan DetailsOtilia lives with her family; she is the mother of an 11 year old girl. She sells snacks and appetizers, is three years in the business, serving in the evenings from 2:00 pm to 9:00 pm, with many customers. She is requesting a loan for the purchase of corn, wood and oil, to keep these materials as… More from Otilia Argentina'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
- Jul 21, 2012
- Aug 27, 2012
- Currency Exchange Loss:
- Apr 19, 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.