Update on Victor ManuelVíctor has decided to apply for another loan because he needs to invest more in the business of selling fruit and vegetables.
It will mean he can buy manioc, tomatoes, squash, broccoli and cauliflower among other vegetables; as well as melon, watermelon, apples, and grapes, among others.
The last loan helped him to increase his stock and get better profits. His family circumstances and financial conditions have improved.
El crédito anterior le ayudo a incrementar sus inventarios y obtener mayores ingresos. Las circunstancias familiares y las condiciones económicas han mejorado.
Previous Loan DetailsVictor decided to take out another loan out of the need to invest again, buying fresh fruits and vegetables, as well as fish. This will allow Victor to offer better quality [products] and a greater variety of fruits, including apples and bananas, as well as onions, tomatoes, and also seafood. The… More from Victor Manuel'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