Update on Ricardo AdanRicardo decided to apply for a new loan because he wants to buy merchandise such as sugar, rice, oil, and more to keep his store running. His previous loan strengthened his business and increased his income, which helped him support his family and improve his living conditions.
Con el préstamo anterior fortaleció el negocio, aumento su capacidad para generar ganancias, esto le ha servido para la manutención de su familia, él considera que sus condiciones están mejor que antes.
Previous Loan DetailsRicardo 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 a... 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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