Update on Virginia EsperanzaVirginia is requesting a new loan as she needs to invest more money in food sales and the loans are an excellent source of financing. This allows her to buy meats, cabbage, tomatoes, oil and other products. The previous loan helped her to raise her income and she invested the earnings in household expenses. She has used the Kiva investment to improve her financial situation and this has allowed her a better quality of life.
Previous Loan DetailsVirginia is requesting a new loan to invest in her business selling food, so that she can buy the ingredients she needs for the different meals that she can prepare. For example, she will buy a variety of meats, cooking oil, vegetables, and condiments. This will help her to keep her food busine... More from Virginia Esperanza'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