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Ángel Francisco

Update on Ángel Francisco

On San Eduardo street on the way to Santa Ana, in the city of Portoviejo, known as the City of the Royal Tamarinds since the colonial era, the 16 de Julio credit group meets every two weeks.

This is where Ángel lives. He is 64 years old, divorced and has two grown children who go to school in other cities and still depend on him. Ángel is a very enterprising man who likes to work to get ahead and give the best education to his children. He has a locale that he rents close to his house where he runs a mini-market. He sells all types of groceries including meat, fish, vegetables and many other products. He also has a bread bakery which is very popular because his customers find everything at his locale. He works with a person that he pays a monthly salary. Thanks to this business he gets ahead. This loan is to buy groceries to stock his mini market and flour and ingredients to make the bread. He has been in the credit group for 3 years and he likes it because the loans allow him to partially finance his business. His dream is to keep improving his business.
View original language description ↓
En la calle San Eduardo vía a Santa Ana de la ciudad de Portoviejo, conocida como la Ciudad de Los Reales Tamarindos desde épocas coloniales, se reúnen cada quince días las socias del Grupo De Crédito 16 de Julio.
En este lugar vive don Ángel, tiene 64 años de edad, es divorciado y de esta relación tiene dos hijos mayores que estudian en otras ciudades y aun dependen de él.
El señor Ángel es un hombre muy emprendedor que le gusta trabajar para salir adelante y para darles la mejor educación a sus hijos, el tiene un local que arrienda en las cercanía de su casa en el cual tiene un mini Marquet, allí vende toda clase de víveres así como también carne, pescado, legumbres y muchos otros productos, el también en este mismo lugar tiene una panadería la cual es muy concurrida ya que sus clientes encuentran de todo en su local, trabaja con una persona a quien le paga un sueldo mensual por su labor. Gracias a este negocio el sale adelante.
Este crédito es para comprar víveres para surtir su mini Marquet y harina e ingredientes para preparar el pan. Lleva 3 años en el Grupo De Crédito y le gusta porque los créditos le permiten financiar en parte su negocio. Sus sueños son seguir mejorando su negocio.

Previous Loan Details

Every fortnight the members of the '17 de Julio' community bank meet in the city of Portoviejo, which has been known as 'the City of the Royal Tamarind Trees' since colonial times. Angel, 62, lives in this city. He is divorced with two adult children from his previous marriage who live indepe... More from Ángel Francisco'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 Ecuador

  • $10,600
    Average annual income
  • 100
    View loans »
    Ecuador Loans Fundraising
  • $24,143,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Ángel Francisco to buy groceries, flour and ingredients to make bread.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 21, 2014
Listed
Aug 16, 2014
Currency Exchange Loss:
N/A
Ended:
Feb 20, 2015