Update on Felix OctavioFélix needs to obtain a new loan because he needs more working capital to increase his merchandise and inventory. This loan will help him to buy essential things like sugar, salt, beans, rice, oil, soap, and other things.
The effect of his previous loan was positive since economic conditions have improved, therefore he increased his sales and opened a new store in the same municipality.
El efecto del crédito anterior fue favorable, ya que las condiciones económicas han mejorado, por lo que incrementaron sus ventas y aperturo una nueva tienda en el mismo municipio.
Previous Loan DetailsFélix wants to increase the merchandise in his business. For this reason, he is applying for a new loan to purchase basic products such as corn, beans, sugar, rice, oil, soft drinks, crackers, and other products that he needs in his business in order to have a good variety for his customers. He… More from Felix Octavio'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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