Teresa De Los Angeles
Update on Teresa De Los AngelesTeresa is originally from León. She shares the experience she had with her first loan with us. She invested it in cell phone recharge minutes and bought stock items for her mini grocery store. She did well with sales; she’s grown little by little. Because of this she’s very grateful to Kiva lenders for helping her with her initiative to get ahead.
Now, she wants to open an Internet Café so is asking for her second loan to buy computers that are used but in good condition and to buy telephones because she’s also planning to install phone booths for international phone calls. She’s always looking for ways to make progress and move her family ahead.
Previous Loan DetailsTeresa, 35, is married and has two children who are 18 and 12 years of age respectively. She is from León and is a merchant. She sells cell phone recharge minutes and places national and international phone calls. She’s been in business four years. What motivated her to open a business of her… More from Teresa De Los Angeles'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