Update on Melvin VladimirMelvin decided to take a new loan, since the previous one was such a success. He asks for funds to buy the supplies he needs to meet demand: chicken, sauces, grated bread, cooking oil, and others. The previous loan aimed at having more products in stock in order to increase his sales. It was a success in that it helped him and his family have a better quality of life thanks to the extra income.
Con el préstamo anterior, tuvo un efecto positivo, el objetivo era tener un inventario fuerte para aumentar las ventas, en su familia considera que las ganancias le han servido, ahora tienen una mejor condición de vida.
Previous Loan DetailsMelvin runs a store and sells breaded chicken. He lives with his mother and a brother. He is single and does not have children, but his brother is dependent on him. He started his business a year ago and learned it at home. He works from 7:00am until 7:00pm. His advantage is that his business is… More from Melvin Vladimir'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.
About El Salvador
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Success!! The loan was 100% repaid