Update on BonifacioBonifacio, a humble, 64 year old farmer, grows corn, beans and wheat. He is a Kiva customer and is very grateful for his first loan, which he was able to invest in supplies such as fertiliser and to pay for labour for sowing the land. Doing this, he was able to increase his harvest and earn more from his sown land. Because of this, Bonifacio is applying for a second loan, to buy animals such as cows and pigs. He thinks this loan would help him to buy animals that he can later sell on at a better price and earn more for his business. He then aims to keep investing in his sown land and move forward with his family. His next goal is to be able to pay back this loan so that he can later come back to apply for another one.
Previous Loan Details63-year-old Bonifacio is known in his town as "Pancho." He is from the region of las Cañitas-Teustepe, a borough of Boaco. He is married with four children who are all married. Bonifiacio began doing agricultural work at ten years old at his father's side. At 17, he got married. Right now he c... More from Bonifacio'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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