Update on Manuel MercedesManuel decided to request a new loan because he needs to invest in his business with the intention of providing better service to his customers. He will buy photo paper, ink, frames, and also memory cards for his camera. These supplies will be very useful in enabling him to provide his services to his customers.
Manuel says that his previous loan allowed him to improve the condition of his business. He was able to provide better service to his customers, which resulted in an increase in his earnings. The financial condition of his business improved with the use of the loans. In addition, he says that his daughter will be graduating from high school this month.
El considera que el préstamo anterior le permitió mejorar su condición en el negocio, dándole una mejor atención a los clientes de los cuales ha recibido un aumento en sus ganancias, sus condiciones económicas considera que a través del negocio están mejorando y por la utilidad de los préstamos, además comenta que su hija se está graduando de bachiller en este mes.
Previous Loan DetailsManuel is asking for a loan because he needs to invest more in the business because his clientele is growing and requesting more photography services. He will buy photographic paper, chemicals, ink and frames to stock the business. He had a positive effect with the previous loan because it… More from Manuel Mercedes'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