Update on OtonielOtoniel is requesting a new loan because he needs more working capital to continue investing in his business. This loan will allow him to buy a dairy cow.
Otoniel's previous loan helped him to increase his stock and to buy more cattle. His family and financial situations have both improved.
El crédito anterior le ayudo a aumentar sus inventarios y obtener más ganado; las condiciones económicas y las circunstancias familiares han mejorado.
Previous Loan DetailsOtoniel lives with his wife and two children. He raises cattle for food and works in construction. From the cattle he sells milk in the mornings and has managed to support his home by means of these occupations. He’s requesting a loan to buy cattle feed: concentrate and ‘harinilla’ [feed m... More from Otoniel'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.
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About El Salvador
741View loans »
Success!! The loan was 100% repaid
- Repayment Term
- 17 months (Additional Information)
- Repayment Schedule
- Jun 6, 2013
- Jun 14, 2013
- Currency Exchange Loss:
- Oct 17, 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.