Update on YaquelWith the previous loan, Yaquel purchased a hairdryer as well as hair and nail care products for her business. She was able to set up her salon with the hairdryer and new products and change her life by offering a better service to her customers. Now she is requesting a new loan to put up a wall around the salon and to purchase more beauty products so she can keep doing the quality job her customers deserve. "I thank God and especially Kiva and ASPIRE for making my dreams come true and helping me fight," Yaquel said. Her plans for the future are to finish setting up her salon.
Previous Loan DetailsWith a loan of 10,600 pesos, Yaquel will be able to buy products for her customers' hair care and nails. Yaquel started her business a year ago on her mother's recommendation after noting how beautifully she did her friends' hair. Yaquel is single, 20 years old, and has still not finished high sc... More from Yaquel'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 Dominican Republic
2View loans »
Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Apr 15, 2013
- May 9, 2013
- Currency Exchange Loss:
- May 28, 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.