Update on Nancy VeronicaNancy decided upon another loan in order to stock her store and for her ‘pupusa’ [stuffed tortillas] sales. She will buy basic grains, cooking oil, fried pork rinds, soft cheese, soft drinks, and sweets. This will serve to improve her sales and to attract new customers.
The previous loan helped her to get new merchandise to offer at better prices. Her sales are greater, she has new customers, and her contribution to the family expenses is greater.
El capital anterior le ayudo a adquirir mercadería nueva para ofrecerla a mejor precio, sus ingresos son mayores, tiene nuevos clientes y su aporte a los gastos familiares son mayores.
Previous Loan DetailsNancy lives with her family: her mother, 60 years old; her husband, 35 years old; and her son, 10 years old. All of them depend on the business. She sells pupusas [a thick corn tortilla stuffed with cheese, fried pork rind, chicken, or refried beans] and has a grocery store. She tends the store e... More from Nancy Veronica'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
- 12 months (Additional Information)
- Repayment Schedule
- Jan 18, 2014
- Jan 22, 2014
- Currency Exchange Loss:
- Sep 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.