Update on MaryMary used her previous loan to buy materials for making seats. Mary is 47 years old and hardworking. She has been making seats for eight years. She started by selling alcoholic beverages, then moved into produce sales until she acquired enough capital to venture into the seat-making business. Price fluctuations and inadequate capital are affecting her business. Her goals are to educate her children, build a permanent home, and expand her business to other markets. Mary intends to use the loan to buy chairs and beds to sell.
Previous Loan DetailsMary is 47 years old and hardworking. She has been making seats for eight years. She started as an alcohol dealer, then went into produce, and after acquiring enough capital she ventured into the seat-making business. Mary is requesting a loan, which she will use to buy materials for making ... More from Mary'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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