Update on Juan CarlosJuan is an excellent MiCredito and Kiva client. He has been progressing little by little as he has received financing. He is very grateful for the trust and support that he has received as a farmer, as his loan was very much needed and well-timed. His previous loan helped with his production and harvest costs, specifically for purchasing fertilizers, insecticides, and labor costs for harvesting his tobacco field, which performed well and produced good profits. He has been saving his profits to reinvest in his field for the next planting cycle as well as purchase a truck that is in good condition to transport his harvest and not depend on a rental truck.
He plans to use this loan, in combination with his savings, to invest in input costs such as fertilizers, and labor costs to expand his fields with corn, beans, and tomato. This new loan will help diversify his production and secure the food for his family and community.
Previous Loan DetailsJuan, is a Kiva client, he is a resident of Estelí, he is single, studies up to 6th grade, farmer, he started growing tobacco seven years ago. He used his previous loan to cover production costs of corn and beans, and to buy inputs to maintain his crops and have a good harvest. He now wants this… More from Juan Carlos'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