Update on RigobertoDon Rigoberto is 50 years old, lives in Esteli and has 6 children. He has a hardware store and sells tools. He thanks each and every Kiva investor who trusted and supported him so that his business could succeed. He used the 1st loan to buy keys, nails, locks, valves, measuring tapes, hammers, machetes, brushes. That is to say, he stocked his hardware store with useful tools, necessary for his clients. It was a good change for his business and the income has been better than before and more importantly payments have been on time. He is very happy to be able to access credit on a timely basis when needed, as there are always opportunities for growth. He wants the 2nd loan to buy locks of all sizes, nails, hoses, rubber boots, waterproof coats, welding gloves, light bulbs. He wants to offer new products to his customers. In the future he wants to sell building materials so that his customers can find all kinds of home improvement items in his hardware store.
Previous Loan DetailsRigoberto is 50 years old, a native of Boaca department, located in the north of the country, but he lives in the city of Esteli. His trade is merchant and he sells iron work created in his hardware store. He is married and the father of 6 children. When he began the business, he was 38 years… More from Rigoberto'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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