Update on Franklin IsaacFranklin decided to request a new loan to continue expanding his car repair workshop. He will use these funds to purchase a compressor and car tools, which will allow him to make repairs on vehicles and give his customers better service.
With the previous loan Franklin succeeded in improving his revenue; since he made a good investment, he has managed to stabilize his business, his children continue to study, and his family conditions have been stable.
Con el préstamo anterior Franklin logro mejorar sus ingresos, ya que realizo una buena inversión de la cual se ha visto beneficiado, se ha logrado estabilizar, sus hijos siguen estudiando y en su familia a tenido una condición estable.
Previous Loan DetailsFranklin lives with his parents, his wife and his three children. He has a vehicle repair shop. It is located in a rented lot across from his home. He works out of his shop and also travels around to work. He has been doing this work for eight years. Franklin is requesting a loan in order… More from Franklin Isaac'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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