Update on MartinMartín requests a new loan to buy fabric in various colors and thread to make clothes and also needs to buy building materials to do some home repairs. He will buy cement, stone and iron, for example. This financing will help him cover some needs, both business and personal, he has.
He was able to buy what he needed to manufacture school uniforms with the previous loan. His family condition is improving since these projects have led to increased business and he’s been able to increase his machines’ capacity.
Con el préstamo anterior logró comprar lo necesario para la elaboración de uninformes de una escuela, en su familia su condición está mejorando, ya que estos proyectos que ha recibido le han permitido también incrementar su negocio y poder mejorar la capacidad en las máquinas.
Previous Loan DetailsMartin lives with his wife and child. He manages a small sewing workshop and has 25 years of experience working as a tailor. Martin learned this trade when he was an assistant at another workshop. He has built up a customer base and his business enables him to provide for the needs of his fami... More from Martin'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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