Update on Oscar MauricioOscar is asking for a new loan because he needs more capital to invest in growing corn and beans. This will help him to buy fertilizer, herbicide, pesticides and insecticides to grow his crop with everything he needs at the right time.
The previous loan allowed him to strengthen his working capital and with the earnings he has been able to support his family. His family circumstances have improved, since his children are still in school thanks to the help offered. His dream is for them to be educated and have successful careers in the future.
El préstamo anterior le permitió fortalecer el capital de trabajo y con las ganancias a logrado aportar a su familia. Las circunstancias familiares han mejorado, ya que sus hijos siguen estudiando gracias a la ayuda que ella le brinda por lo que su sueño es formarlos académicamente y sean profesionales de éxito en el fututo.
Previous Loan DetailsOscar grows corn and beans. He has been carrying on his business for 15 years, working every day from six in the morning to three in the afternoon. So far he has not had any problems in this work. He lives with his wife and three minor children, ages 10, 8, and 6. He is applying for a loan… More from Oscar Mauricio'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 26, 2013
- Apr 11, 2013
- Currency Exchange Loss:
- Oct 17, 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.