Update on AlbertoAlberto finished paying his first loan and now is asking for a new loan. He will use the money to continue investing in his car shop. He will buy some additional tools and buy some auto parts. Alberto has been fixing cars for more than 30 years. He says that he has a lot of experience and a lot of returning clients. He is happily married to Guadalupe and has two beautiful daughters, Diana Guadalupe who is 15 and Paola who is 9.
Previous Loan DetailsAlberto is a Kubo Financiero client and this his story. Hello. My name is Alberto. I have been happily married for the last 18 years and have two beautiful daughters, Diana Guadalupe and Paola Guadalupe. Both go to school. I am a car mechanic and fortunately I have many recurring clients. I am... More from Alberto's previous loan »
About Kubo.financieroKubo.financiero is a regulated microfinance institution that provides accessible and affordable loans to borrowers in Mexico. Its online banking platform and other innovations enable Kubo to charge interest rates that are much lower than the average for MFIs in Mexico. By doing business in a new way -- leveraging technology and customized risk profiles -- the organization is able to support microfinance clients throughout the country. With funds from Kiva lenders, Kubo is able to expand its lending network even further, reach riskier clients who have less credit history, decrease interest rates for borrowers, and scale its service area.
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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- Repayment Term
- 13 months (Additional Information)
- Repayment Schedule
- Jun 26, 2014
- Jul 15, 2014
- Currency Exchange Loss:
- Jul 17, 2015
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.