Update on Miguel AngelMiguel is requesting a new loan to buy small electrical appliances, lamps, flashlights and other products that he sells in his business. He hopes that, with this support, he will be able to strengthen his business with merchandise, offering his customers the best and satisfying their needs.
This is Miguel's second loan. His previous loan was also used to buy merchandise. That investment helped him keep his customers and he was able to sell all the goods he bought. As a result, he will once again buy merchandise with this loan, thereby breathing more life into his business.
Previous Loan DetailsMiguel is 54 years old and lives in Corinto, in Morazán department, together with his wife Sara and his three children: 7 year-old Josué, 6 year-old Ana and 2 year-old Gamalie. Miguel's business is selling small electrical appliances. He has been in this business for 10 years. He started the… More from Miguel Angel'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.
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Success!! The loan was 100% repaid