Update on JairoJairo is 35 years old and a Kiva borrower. He feels very thankful for the Kiva loan. It was a big help because he could invest it in his business, buying high-demand products like rice, sugar, sodas, oats, soap, and pay for the labor costs of sowing the land. When he is not sowing, he is working in his business of the local convenience store. It is for that reason that today he is applying for his third loan in order to buy new products like bedspreads, towels, sugar, chicken, toilet paper, milk, oil, etc, with the intention of increasing his income in order to give a better quality of life for his family.
Previous Loan DetailsJairo relates that he used the first loan he got from Kiva through MiCredito to buy bedspreads to sell which improved his business inventory; he also bought various products and plastic items to sell. He’s very grateful for the opportunity he got through the loan. He will use this new loan to... More from Jairo'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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Success!! The loan was 100% repaid