Update on SergioSergio is requesting a new loan because he believes it will help him to develop his business. He will use the funds to purchase fabric and leather to upholster furniture and vehicles. The loan will help him to have sufficient materials to do quality work.
Earlier, Sergio requested a loan to purchase materials because the earnings he receives from his upholstery work allow him to subsist.
Anteriormente Sergio solicito para comprar materiales, ya que su ingreso para subsistir lo recibe de los trabajos que realiza con la tapicería.
Previous Loan DetailsSergio is married living with his wife. He has three children who are 36, 39 and 40 years old; each has their own house. He upholsters wood furniture and cars. He’s been in business 21 years and works every day from 7am until 3pm. At present, he needs to buy fabric, paint and glue to uphols... More from Sergio'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
- 17 months (Additional Information)
- Repayment Schedule
- Feb 22, 2012
- Mar 11, 2012
- Currency Exchange Loss:
- Oct 16, 2012
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.