Update on HermenegildaHermenegilda is 60 years old and, because of her family's financial situation when she was a child, she was not able to attend school. Hermenegilda has a shop on the beach. She lives with her two children, who help her with the business. However, the children are no longer dependent on their mother.
In Hermenegilda's shop, she sells staple goods. The store has been a source of income for years and Hermenegilda likes it a lot. Hermenegilda brings in an income from the shop while her family makes a living buying and selling cattle. Hermenegilda buys stock for the shop in the city, some 28 kilometres away. Some products she has delivered to her home.
Hermenegilda has always used her loan as working capital. She takes out a loan every three months in order to increase stock levels in her business. With different products in her shop, Hermenegilda's income increases.
Hermenegilda's goals are to make her business profitable, and to make sure her children know everything there is to know about running her business. That way, in the future, they can take over the running of the business.
Ella posee una tienda de artículos de primera necesidad. El negocio ha sido su fuente de ingreso por años y le gusta mucho; aporte de la tienda la señora y su familia se dedica a la compra y venta de ganado. Ella compra lo de la tienda en la ciudad, ubicada a 28 kilómetros. Otros productos lo dejan a domicilio.
Hermenegilda, siempre ha utilizado sus créditos como capital de trabajo, para su tienda cada 3 meses toma un crédito estacional para aumentar la mercadería en su negocio y al tener su negocio con distintos productos que vender sus ingresos aumentaran.
Sus aspiraciones, son poder lograr que su negocio siga siendo rentable en el tiempo y lograr que sus hijos conozcan a fondo la manera en que se administra, para en un futuro no muy lejano sean ellos los responsables de la misma.
Previous Loan DetailsHermenegilda is a 60 year old single mother with two children. She lives with her children and a grandson. Sadly, she didn’t attend school, and she only knows how to write the initials of her name. Five years ago she opened a small store in her home to sell basic products. This way she’s able to… More from Hermenegilda's previous loan »
About CrediCampoThis loan is administered by CrediCampo, a Kiva Field Partner in El Salvador. CrediCampo seeks to improve the lives of rural communities and their families in areas including health, education, basic services, and infrastructure. Through its Community Development Unit, CrediCampo provides scholarships, leadership development training, and financial education programs for families in rural areas. CrediCampo’s work is crucial in addressing the issue of poverty in El Salvador. Based on 2009 estimates, 37.8% of the population lives below the poverty line. To learn more about CrediCampo and their work, visit their partner page.
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
- 5 months (Additional Information)
- Repayment Schedule
- At end of term
- Oct 12, 2013
- Nov 12, 2013
- Currency Exchange Loss:
- Feb 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.