Update on Fredis ArmandoFredis is requesting a new loan because he needs to strengthen his business with more working capital. He plans to invest in wood and paint to make furniture, which will allow him to improve the conditions of his business and his sales.
His last loan helped him strengthen his business with financial resources and earn more income, which he has used to help his family and maintain his business.
El préstamo anterior le ayudo a fortalecer el negocio, con los recursos económicos y obteniendo mejores ingresos, con lo que ha podido ayudar a su familia, su negocio se mantiene; al igual que su familia.
Previous Loan DetailsFredis is a carpenter and lives with his family. He has been making furniture for seven years. His work schedule is from 7:00 a.m. until 5:00 p.m. He learned his trade when he worked as an employee at a carpentry shop. At the moment, he needs a loan to cover the expenses of wood and paint, whi... More from Fredis Armando'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.
About El Salvador
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Success!! The loan was 100% repaid