Update on Felix OctavioFélix wants to increase the merchandise in his business. For this reason, he is applying for a new loan to purchase basic products such as corn, beans, sugar, rice, oil, soft drinks, crackers, and other products that he needs in his business in order to have a good variety for his customers.
He feels that the previous loan helped him to generate more earnings, since he was able to open a new business in another community, and thus he has succeeded in supporting himself and his family better financially.
El considera que el préstamo anterior le ayudo a generar más ganancias ya que pudo abrir un nuevo negocio en otro municipio, y así ha logrado sostenerse mejor económicamente él y su familia.
Previous Loan DetailsFélix manages a store, he lives with his mother and is single. His business offers essential goods and he has five years experience. He is requesting a loan to purchase basic products, such as oil, beans, sugar, and soap. Increasing his product inventory will help him have greater solvency in cu... More from Felix Octavio'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
- 14 months (Additional Information)
- Repayment Schedule
- Sep 28, 2012
- Oct 23, 2012
- Currency Exchange Loss:
- Dec 15, 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.