Update on MiguelMiguel is a very hard-working person. This is his second Kiva loan, and thanks to the first one he was able to stock his business and meet the requests of his customers. He is grateful for the opportunity that he received, since it was very helpful for him to continue investing in his business.
He is asking for this new loan in order to invest it in the purchase of hammocks, sheets, and blankets in addition to food products in order to continue with his sales and thus be able to continue providing income for his household.
El solicita de este nuevo crédito para poder invertirlo en la compra de hamacas, sabanas, frazadas y demás insumos para poder seguir con sus ventas y con lo cual podrá seguir aportando con los ingresos de la casa.
Previous Loan DetailsMiguel, 50, is from the city of Carapeguá. He’s been married to Rafaela for over 20 years and they have two adult children. Miguel is the son of farmers and he has spent his entire life farming manioc, corn, beans and other horticultural products but he also sells crafts since his wife’s a we... More from Miguel's previous loan »
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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
- 15 months (Additional Information)
- Repayment Schedule
- Feb 20, 2013
- Mar 20, 2013
- Currency Exchange Loss:
- Jan 17, 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.