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Otoniel

Update on Otoniel

Otoniel 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.
View original language description ↓
Otoniel, se decide por un nuevo préstamo porque requiere de más capital de trabajo para seguir invirtiendo en su oficio; este le permitirá comprar una vaca para producción de leche.
El crédito anterior le ayudo a aumentar sus inventarios y obtener más ganado; las condiciones económicas y las circunstancias familiares han mejorado.

Previous Loan Details

Otoniel 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 »

Additional Information

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.

Tags

About El Salvador

  • $4,900
    Average annual income
  • 453
    View loans »
    El Salvador Loans Fundraising
  • $23,241,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $525 helped Otoniel to buy a dairy cow for milk production.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 6, 2013
Listed
Jun 14, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2014
This photo was used before for a previous loan for Otoniel. It was first posted on Kiva on May, 2012. Learn More