Update on MercedesMercedes is requesting a new loan because she needs more working capital as well as the attention the institution offers her. This loan will help her to buy meat, rice, beans, oil, and other ingredients for the food she sells.
Her previous loan helped her to strengthen her business and she was able to cover all of her expenses. Her family's situation has remained stable.
Con el crédito anterior le ayudo a fortalecer el negocio y con las ganancias ha logrado cubrir los gastos. Las condiciones familiares se mantienen estables.
Previous Loan DetailsMercedes is a single mother of two adult children, ages 36 and 39. She makes a living selling food, and she decided to begin her small business five years ago. She works every day, and she has had success with her business. She is requesting this loan because she needs to purchase input items… More from Mercedes'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
- Mar 20, 2013
- Mar 24, 2013
- Currency Exchange Loss:
- Apr 16, 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.