Update on Cosme VinicioIn the northwest of the province of Pichincha is the Canton of San Miguel de los Bancos. This canton (town) is a place of love, a warm humid climate full of friendly, hardworking people. It is visited by domestic and foreign tourists to enjoy the beautiful waterfalls and lodges where you can spend a good time with family or friends.
It is in this canton that Cosme lives and has his business. He is a fighter of 44 years old, a single man who has a son who has come of age and is independent. He is engaged in the production of beef cattle. He learned this business as a child along with his parents and to this business he devotes a daily average of 8 hours. He does the work himself and does not have help.
He is requesting a loan to invest in the business to pay the cleaning that is done every year on the farm. With this new investment, he expects to improve his income as it will provide a better condition for his cattle. Cosme thanks the Alternative Foundation and Kiva for the support and the opportunities provided.
En este Cantón vive y tiene el negocio el señor Cosme un hombre luchador de 44 años él es soltero tiene un hijo el cual ya es mayor de edad he independiente, él se dedica a la producción de ganado para carne aprendió de este negocio en su niñez junto con sus padres a este negocio le dedica un promedio diario de 8 horas, se encarga de forma personal no tiene quien le ayude, solicita el crédito para invertir en el negocio para pagar la limpieza que se hace cada año en la finca.
Con esta nueva inversión espera mejorar sus ingresos económicos ya que podrá tener en mejores condiciones su ganado, el señor Cosme agradece a Fundación Alternativa y a Kiva por el apoyo y las oportunidades brindadas.
Previous Loan DetailsSan Miguel de los Bancos (also known as ‘Los Bancos’) is a canton in the province of Pichincha in Ecuador. The climate in the canton is subtropical due to its moderately high altitude, in contrast to the climate of the province’s highlands between the Western and Central Cordilleras. The canton… More from Cosme Vinicio's previous loan »
About Fundación AlternativaFundación Alternativa encourages entrepreneurship and provides sustainable financial and non-financial services that promote social and economic development in Ecuador. The organization focuses on serving poor and excluded populations through analysis of clients' living conditions and by providing business training and other support services in urban, rural and marginalized parts of the country.
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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Success!! The loan was 100% repaid
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Jul 15, 2014
- Aug 17, 2014
- Currency Exchange Loss:
- Feb 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.