Update on Oscar ArnulfoOscar’s requesting a new loan because he needs to invest more in the business; it will make it possible for him to buy firewood to then sell it in the winter. This way he’ll have product stocked for when he needs it.
The previous loan helped him increase his inventory. His family condition has improved and so has his economic circumstances thanks to the profits generated.
Con el crédito anterior le ayudo a incrementar su inventario. Las condiciones familiares han mejorado y las circunstancias económicas gracias a las ganancias que genera.
Previous Loan DetailsOscar finds that he needs to invest more money in his business of buying and selling firewood. This is why he is asking for a loan to buy firewood at a wholesale level. He sells to all the tortilla shops in the zone. This loan will give Oscar the resources to invest in his business. Oscar told ... More from Oscar Arnulfo'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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