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Luis Fausto

Update on Luis Fausto

Luis is 31 years old. He is married and lives with his wife and four children in Guaranda, a canton in the Bolivar province. Luis is a member on the Nuevos Horizontes community bank, which is located approximately 40 minutes from his town, in Santa Martha, Guaranda.
Luis is a farmer, he grows and sells naranjilla. He also raises cattle.
He will use the loan money to purchase urea, herbicide and inputs for the naranjilla crops. With the loan from the community bank he will be able to increase the amount of sown land. He makes all his purchases in Guaranda. His dream is to create a natural products business. The challenges he faces are lack of communication and transport, bad climate and crop plagues. In his spare time, he likes to go to the beach with his wife and children.
He is very grateful for the previous loan.
View original language description ↓
Luis tiene 31 años de edad estado civil casado vive con su esposa tiene 4 hijos vive en el Cantón Guaranda Provincia de Bolívar.

Es integrante de la VCR Nuevos Horizontes, la comunidad se encuentra a unos 40 minutos en la comunidad santa Martha perteneciente al Cantón Guaranda.

Luis Se dedica a la agricultura a la siembra y venta de naranjilla, Además se dedica a la crianza de ganado. Utilizara el dinero del crédito para comprar urea, herbicida, insumo para la naranjilla.

Con el crédito que le otorga la cooperativa podrá aumentar la cantidad de la siembra. Sus compras las realiza en el cantón Guaranda. El sueño es llegar a crear un negocio de productos naturales. Los desafíos a los que se enfrentan son el no poder comunicarse no tener medio de transporte en el clima y las plagas en los cultivos. En el tiempo libre se dedica a salir a la playa con los hijos y la esposa.

"Esta muy agradecida por el crédito anterior".

Previous Loan Details

Luis Fausto, 30, and his wife have 4 children who are 12-, 10-, 8- and 6-years old, respectively. They live in Guaranda, a canton in Bolivar province. Luis is a member of the Nuevos Horizontes community bank. His town is about 40 minutes from Santa Martha in Guaranda. Luis is a farmer. He... More from Luis Fausto's previous loan »

Additional Information

About Cooperativa San Jose

This loan is administered by Cooperativa San Jose, a 45,000-member credit union located high in the Andes Mountains of Ecuador’s poorest province, Bolivar. They offer a unique loan called “Ventanillas Rurales” [Window to the Countryside], which uses a group guarantee but is an individual loan with a savings component, mostly to rural borrowers. Due to low savings rates and a history of macroeconomic instability, many traditional loans in Ecuador demand interest rates that are prohibitively high for some borrowers. There is also a high incidence of extortionist black-market lending in Ecuador. CSJ helps mitigate these problems by providing a less onerous and more appropriate option. Join CSJ’s Lending Team!

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 Ecuador

  • $10,200
    Average annual income
  • 59
    View loans »
    Ecuador Loans Fundraising
  • $23,549,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Luis Fausto to purchase urea, herbicide, inputs for naranjilla crops.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Mar 14, 2013
Listed
Apr 2, 2013
Currency Exchange Loss:
N/A
Ended:
May 28, 2014