Update on Miguel FabioMiguel Fabio is 35 years old and lives with his wife and children in a home of his own. He raises corn and beans and also works as a mason so that he can pay the household expenses. He’s been a farmer for many years and he is proud because he has gained lots of experience that allows him to improve his harvests. He has his own farmland located in an agricultural zone, gets his family’s support, and they help him sell in all of the surrounding areas because he has many customers and people prefer to buy from him because of his good prices and service.
Miguel is an enterprising man, always dedicated to his work with a desire to succeed. He had some losses last season and he was not able to make his expected earnings, but this year he wants to increase his production and recover, but he needs capital to back him because he makes all of his purchases in cash. He decided to request a loan through INTEGRAL so he can buy corn, bean, and rice seeds, tools, etc.
Miguel Fabio is responsible, with good credit references, and he is certain that he will be able to repay this loan and at the same time provide a better quality of life for his family.
Previous Loan DetailsMiguel Fabio is thirty-four years old and lives with his wife and their children. He works in the agricultural sector, specifically the cultivation of corn and beans. The years of working [in this field] have given him the valuable experience that has allowed him to obtain the best harvests. The… More from Miguel Fabio's previous loan »
More information about this loan
This loan is part of Apoyo Integral's program to help subsistence farmers located in high-risk regions of El Salvador, including coastal strips, river banks, and volcano fault lines. The program, which offers reduced interest rates, targets farmers who don't qualify for formal funding due to their low-income and geographical risk. By funding this loan, you are helping Apoyo and a local non-governmental organization extend risk-tolerant credit to even more farmers.
About Apoyo IntegralApoyo Integral (Apoyo) is a nonprofit organization offering financial products that enable clients to increase their working capital, purchase fixed assets, buy and remodel homes, expand agricultural business and more. The organization’s target group is businessmen and women who have already established their businesses but need financial support to strengthen or expand them.
Like Kiva, Apoyo is committed to empowering women involved in business activities in rural areas. Kiva lenders’ funds will be used to expand these services to an even greater number of poor clients in rural areas.
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
- At end of term
- Jan 12, 2013
- Jan 22, 2013
- Currency Exchange Loss:
- Feb 21, 2014
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.