Update on Miguel AngelMiguel wants to buy more kinds of clothes to sell them, and for this reason he is asking for a new loan in order to buy blouses, skirts, trousers and underwear, articles he needs for his activity to work and to keep on selling. He is also currently making wooden accessories to sell, wanting to find new ways to earn money.
He says that the previous loan has helped him buying a wide variety of products to sell, thus giving him the chance to earn money for his family, and he thinks that his household’s economy has consequently improved.
Manifiesta que el crédito anterior le permitió comprarse mercadería en variedad, para poder vender, dándole la posibilidad de generar ganancias para su familia, considera que esta teniendo un avance en la economía de su hogar.
Previous Loan DetailsMiguel is 45, and lives in the Transit municipality of San Miguel department. He is a single father and lives with his two-year old son. Migual sells clothes and housewares. Migual learned about business at a young age due to difficulty finding work. He sells his items walking around the… More from Miguel Angel'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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