Update on Jose BalbinoJosé’s asking for a new loan because he needs more working capital and because of the easy loan terms the Institution offers. This will make it possible for him to buy the farm supplies like manure, corn seeds, herbicide, pesticide and fungicide needed for his crops as well as to prepare the soil. His previous loan helped him get a good crop yield and his economic conditions have improved a little as well as his family circumstances.
El crédito anterior le ayudo a obtener una buena producción; las condiciones económicas han mejorado un poco y también las circunstancias familiares.
Previous Loan DetailsJosé is a crop and livestock farmer who lives with his wife and children, ages 18 and 14. He has his own property where, for 20 years, he has been growing crops, and for eight years, raising livestock. Through his work he has been able to get ahead and provide everything necessary for his family.… More from Jose Balbino'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
- May 21, 2013
- May 29, 2013
- Currency Exchange Loss:
- Dec 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.