Update on Santo ThonyThe communal bank, "Productivo," meets every two weeks in the canton of Montecristi, which is known for its rich precolonial agriculture and its artisanry, which is known at the national and international level. It is also famous for its Panama hats.
Señor Santo is 48 and is in a common law marriage. He has two children, who are 22 and 21. They study in college. His wife is a housewife and helps him with his job.
He has an auto shop, and his speciality is electronic and computerized parts for cars. Many customers come to his shop so he can do work. There aren't many technicians who can fix this type of damage in vehicles. He wife helps him with his work, and his children also help when they can. He has had his shop for more than five years in a rented location. He also sells certain electronic spare parts since his job makes it easy to do and he can earn extra income.
He is asking for another loan from his communal bank. He other loan helped him a lot because he bought various products that he was needing to improve his shop. With the profits, he could pay for some home expenses and also buy tools that he needed. He will use this loan to buy more electronic spare parts to stock his business. This is his sixth loan with his communal bank, and he likes the help that he receives through his loans.
His dream is to have his own location so he does not have to pay rent.
El señor Santo tiene 48 años de edad y mantiene una relación de unión libre de la cual tiene dos hijos de 22 y 21 años los mismos que estudian en universidad. La esposa es ama de casa y le ayuda en su trabajo.
Él tiene un taller de mecánica automotriz y su especialidad es parte electrónica y computarizada de los automóviles, tiene muchos clientes que llegan hasta su taller para que les realice sus trabajos ya que no hay muchos técnicos que arreglan este tipo de daños en los vehículos. Su esposa le ayuda en su trabajo al igual que sus hijos cuando ellos pueden, lleva con su taller por más de 5 años el cual lo tiene en un local alquilado. Allí también el vende ciertos repuestos eléctricos ya que le facilita el trabajo y además se gana algo extra.
Está repitiendo el crédito en el Banco ya que el otro crédito le fue de mucha ayuda pues compró varios productos que necesitaba para mejorar su taller, con las ganancias que obtuvo pudo solventar los gastos del hogar y también compro ciertas herramientas que necesitaba para su trabajo, este crédito es para comprar más repuestos eléctricos para vehículos para surtir su negocio. Este es el sexto ciclo en el Banco Comunal y le gusta por la ayuda que recibe con los créditos.
Sus sueños son tener un local propio para no pagar arriendos.
Previous Loan DetailsThe communal bank Productivo meets every two weeks in the canton of Montecristi, known for its rich pre-colonial culture and its handicrafts, which are renowned nationally and internationally. It is home to the famous Panama hat. This is where Santo lives. He is 48 years old and is in a… More from Santo Thony'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.
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Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Sep 13, 2012
- Oct 7, 2012
- Currency Exchange Loss:
- Feb 15, 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.