Update on Marco AntonioMarco needs to buy a vehicle. He is applying for a loan because he only has part of the money, and with the contribution of the loan, he will have the whole sum. This investment is important to Marcos because with the vehicle he will transport bread, distributing it to his customers. The effect from his previous loan was a positive one. He made the improvements in the home by building a hallway, and he was also able to improve the production of the business. The household economy has improved, but it needs to improve more little by little.
El efecto que le dio el préstamo anterior fue positivo, realizo las mejoras en la vivienda con la construccion del corredor, logrando tambien mejorar la producción del negocio, hasta el momento su economía familiar ha mejorado, pero necesita poco a poco ir mejorando mas.
Previous Loan DetailsMarco lives with his wife and their four school-aged children. He has been running a bakery for seven years, working with his wife and one employee. The children help in their spare time. Marco is seeking a loan to buy construction materials. His oven is out in the elements, so he wants to b... More from Marco Antonio'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
- 26 months (Additional Information)
- Repayment Schedule
- Sep 12, 2012
- Oct 8, 2012
- Currency Exchange Loss:
- Dec 15, 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.