Update on Eligio IsidroEligio is now 29 years old. He is a young entrepreneur who has the drive to succeed. Eligio is an electrician and his previous Kiva loan was used to buy parts that he could sell. The loan injected some capital into his business so that he could continue growing.
He is requesting a new loan from Kiva so that he can invest in the purchase of tire repair equipment that is being offered for a low price. Eligio wants to take advantage of this opportunity so that he can have another source of income. With this equipment, he can use it to produce additional earnings for his family. He is grateful for this new opportunity he has received and it will be of great help.
Solicita un nuevo crédito de Kiva para poder invertirlo en la compra de un equipo de gomería que está en venta a bajo precio y lo quiere aprovechar para así tener otro medio de ingreso, con este equipo quiere poder implementar otra forma de producir ingresos para su familia. Agradece por esta nueva oportunidad que recibe, pues le será de mucha ayuda.
Previous Loan DetailsEligio, 27, lives in Itá in his parents’ house. He is an electrician and has had his own business for 3 years. He gained experience starting 6 years ago when he worked for another electrician but he decided to go it alone and form his own business. He says that he has a lot of busienss since... More from Eligio Isidro's previous loan »
More information about this loan
This loan is designed for young people aged 15 to 25 whose families are living in poverty and who wish to start a new business or improve an existing business. As part of its Youth Entrepreneurship program, Fundación Paraguaya’s staff members offer mentorship, as well as training courses and workshops in finance and business administration. Borrowers also receive standard benefits like health coverage and life insurance. This type of loan is not offered by most other financial institutions in Paraguay. Young borrowers are often considered to be too risky because they lack prior credit history or business experience.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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
- 15 months (Additional Information)
- Repayment Schedule
- May 30, 2013
- Jul 2, 2013
- Currency Exchange Loss:
- Aug 17, 2014
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.