Update on Luis AlbertoLuis is a 46 year-old man who lives in Latacunga with his wife, Olimpia, 38 years old. Latacunga is a city that is part of Cotopaxi Province in Ecuador. It is located geographically in the central mountains of the country at some 2750 meters above sea level with an average temperature of 12 °C (53.6 °F). Due to its recent development and its importance with respect to history, architecture and culture, Latacunjga is one of the most important cities in the mountains. Nowadays, the city is considered a National Heritage site and, based on the 2010 census, has a population of almost 64,000 inhabitants.
Luis is a farmer, a job passed down traditionally from his parents. He works around 8 hours a day and considers that the two most important obstacles in his work are the distance between his house and his fields and the difficulty he has had getting credit. Thus this loan from Kiva is one of the last options Luis has. He plans to invest it in his business in order to increase production and he hopes this will lead to an improvement in his quality of life, as such.
Latacunga es una ciudad que pertenece a la provincia de Cotopaxi en Ecuador. Su ubicación geográfica es en la sierra central del país, y esta a unos 2750 metros sobre el nivel del mar con una temperatura promedio de 12 grados centígrados. Debido a su desarrollo último, y su importancia en cuanto a temas históricos, arquitectónicos y culturales, Latacunga es una de las ciudades más importantes de la sierra. Hoy en día la ciudad es considerada Patrimonio Nacional y en base al censo del año 2010 cuenta con una población de casi
Luis se dedica al a producción agrícola, una práctica que la aprendió por tradición de sus padres. Luis trabaja alrededor de 8 horas diarias y considera que los dos obstáculos más importantes para su trabajo es la distancia entre su casa y el terreno donde trabaja y la dificultad que ha tenido para poder acceder a créditos. Por eso este crédito Kiva es una de las últimas opciones que Luis tiene, el lo planea invertir en su negocio para mejorar su producción, y espera que esto derive en la mejora de su calidad de vida como tal.
Previous Loan DetailsLuis is a 45-year-old man who lives with his family in Latacunga, which is a canton in the center of Ecuador southwest of the volcano that gave its name to the Chimborazo Province. It is a central point in the intersection of the coast, the Andes, and the Amazon. It has a temperate climate that... More from Luis Alberto's previous loan »
More information about this loan
About Fundación AlternativaFundación Alternativa encourages entrepreneurship and provides sustainable financial and non-financial services that promote social and economic development in Ecuador. The organization focuses on serving poor and excluded populations through analysis of clients' living conditions and by providing business training and other support services in urban, rural and marginalized parts of the country.
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
- Jul 24, 2012
- Aug 31, 2012
- Currency Exchange Loss:
- Sep 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.