Update on Ricardo AdanRicardo has opted for a new loan to buy merchandise for the store he manages; he will buy noodles, snacks, cookies, oil, beverages and juices. This loan will be very useful in order to increase merchandise. He states that the previous loan provided the cash needed to buy construction supplies and also helped him buy basic staples. His income increased by starting to sell basic staples and he was able to cover his children’s schooling costs.
Él manifiesta que el crédito anterior le proporciono el efectivo para comprarse materiales de construccion y ademas le ayudo a mantener productos de la canasta básica, aumento sus ingresos instalando el negocio de productos basicos y logro cubrir los gastos escolares de sus hijos.
Previous Loan DetailsRicardo is an employee; he lives with his wife and two children who depend on him economically. He owns his house. He has worked in a government office for four years approximately. At present he’s involved in a home improvement project. He’s asking for the loan to buy cement, gravel and ... More from Ricardo Adan'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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