Update on Jose ManriqueJosé has continued to work both in the sale of seafood and at his car shop. He is requesting a new loan to invest in fresh products such as seafood and fish, and also to invest in spare vehicle parts, such as bulbs and spark plugs, among other accessories that will allow him to keep working as a mechanic. He believes that he has been working a lot these past months and this has given financial ease to his family.
The previous loan had a positive effect on him as it allowed him to have the necessary resources to do a good job. In his family, everyone is doing well. However, José feels that the profits from his businesses have been falling. This has given him the initiative to invest more time in the sale of seafood, which will allow him to increase his income.
Ha tenido un efecto positivo con el préstamo anterior, ya que le permitió los recursos necesarios para realizar un buen trabajo y en su familia todos se encuentran bien y considera que ha reducido un poco las ganancias dándole la iniciativa de dedicar más tiempo a la venta de mariscos para poder crecer nuevamente en sus ingresos.
Previous Loan DetailsJosé lives with his wife and one son. He works in a metal workshop that creates metal frames and he also lends his services as a driver. He started as an apprentice and then later began establishing his own business of constructing metal frames. He bought his own car and has 2 years of… More from Jose Manrique'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
- 17 months (Additional Information)
- Repayment Schedule
- Sep 27, 2012
- Oct 23, 2012
- Currency Exchange Loss:
- Nov 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.