Update on Luis ManuelLuis decided to request another loan in order to buy vegetables to re-stock his business. During the holidays, demand for his products greatly increases, so he plans to buy more tomatoes, onions, meat, sodas, juices, and other basic food items. Luis fared very well with his previous loan; his sales increased, as did his earnings. Because of this, he was able to provide for his family. He hopes to be able to offer them a better quality of life.
Luis will also continue to work doing auto repairs in his shop, which serves as an additional source of income for his family.
Él tuvo un efecto positivo con el préstamo anterior, mejoro sus ventas y los ingresos para trabajar y proveer lo necesario a su familia, su intensión es ofrecer una mejor calidad de vida con la familia, tambien sigue realizando reparaciones en su taller de mecanica, que es un ingreso adicional para la economía familiar.
Previous Loan DetailsLuis lives with his wife, but they have no children. He manages a sales kiosk and an auto repair shop. These businesses were started out of necessity so that he would have a source of income. His hours of operation are from 6:00 A.M. to 7:00 P.M. At the sales kiosk, his wife helps with attend... More from Luis Manuel'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
- Jan 4, 2013
- Jan 15, 2013
- Currency Exchange Loss:
- Jun 18, 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.