Update on SalveriSalveri needs another loan to buy cosmetics to sell. He operates a retail shop and was able to purchase a motorcycle with his previous loan. He believes in multiple businesses and now wants to venture into cosmetics sales.
Previous Loan DetailsSalveri is a 30-year-old married man who has one child and rents a house in Kasese, Uganda. He has been operating a retail shop for three years. He started with working capital of 800,000 shillings and now has 2,500,000 shillings. Salveri's hardships include breakage of goods during transportation.… More from Salveri'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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