Update on Carlos HoracioCarlos is a poor mechanic and he is grateful for the opportunities that arose from receiving a Kiva loan. He was very satisfied with his first loan as it helped him to invest more in his workshop by buying all the tools that he did not have on his inventory, such as drills and sandpaper. He is now very proud because he has been able to offer better service to his customers. Carlos needs a second loan to buy tools such as sandpaper, a drill and a motorcycle helmet, so that he can continue to expand the business and provide a more specialised service to customers.
Previous Loan DetailsCarlos is a father living in Estelí. He’s a mechanic by profession and also does welding jobs. He has five children. He learned his occupation at the age of 12 repairing and welding bicycles and motorcycles alongside his father; this is how they supported themselves. Later on, he opened a sma... More from Carlos Horacio'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