Update on MercedesMercedes is 52 years old, resident of the city of Leon, and married. She is a storekeeper, owner of a general store. She has 4 children and currently is taking care of her grandchildren. We find Doña Mercedes proud and happy as she shows us how far her business has come with the support from Kiva and her first loan. She is now offering more merchandise and has been slowly building her house. She is now requesting a second loan to stock up on basic grains, juices, sodas, soups, canned products. detergents, soaps, cosmetics, because the Christmas season is approaching and she wants to take advantage of the good sales that occur during this time. Her plans always include making improvements to her home and her store.
Previous Loan DetailsMercedes is 52 years old and was born in the department of León. She is married, works as a merchant, owns a general store and has 4 children, but lives with grandkids that she cares for. She started selling food products through a neighbor who had a store. Later, her neighbor decided to leave… More from Mercedes'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