Update on Jorge EnriqueJorge was able to obtain a loan which allowed him to increase his sales and now he has more customers who visit him to update their sheets and bedspreads, despite the hot sun or the torrential rains. Jorge has acquired much experience during these two years and one day he would like to study about sales tools. This young entrepreneur and dreamer is an expert merchant who is certain that sales will increase during the end of year season, so he is asking for a second loan to buy merchandise with which he will be able to cover his customers’ demand.
Previous Loan DetailsJorge is a man of 25. He is single and has no children. He lives in Santo Domingo, which is one of the youngest cities of the country. It now forms a point of contact between the Sierra and Coast regions. It is a privileged location, not only for its ethnic richness, but also for its landscapes.... More from Jorge Enrique's previous loan »
About Fundación AlternativaFundación Alternativa encourages entrepreneurship and provides sustainable financial and non-financial services that promote social and economic development in Ecuador. The organization focuses on serving poor and excluded populations through analysis of clients' living conditions and by providing business training and other support services in urban, rural and marginalized parts of the country.
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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