Update on Jorge LuisJorge Luis is 45 years old. He is single and was born in Empalme. Jorge Luis has been living in Guayaquil for 17 years. He is separated, but has three grown children. From a young age, he learned the welding trade at various workshops. He currently has his own metal workshop where he and his son work from 8am to 9pm, Monday through Saturday.
The loan he is requesting will be used to buy machines and raw materials. His upcoming goal is to continue working so that he can increase his income and improve his quality of life.
Previous Loan DetailsJorge, 45, is a hard working man who started his activity 16 years ago as an employee of a Master Metalworker but one day he decided to open his own business and help his family that way. He works according to orders from his customers and with help from his children. The difficulty with hi... More from Jorge Luis's previous loan »
About Banco D-MIROBanco D-MIRO is a microfinance institution that serves the most vulnerable sectors of Ecuador’s economy. It offers very small loan sizes without requiring collateral, expanding access to borrowers who would not otherwise be able to access capital to start and grow their own businesses. It also specifically targets borrowers who are excluded from formal financial systems due to race, ethnicity, gender, disability or illness.
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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