Update on ReinerioReinero is a very hardworking person who earns an honest living with his taxi. He is very self-sacrificing and is a fighter.
He used his previous Kiva loan to put a new taxi into service, for which he is very grateful. Now, he is asking for another loan in order to invest in the maintenance and painting of his vehicle, as this is his means of subsistence and his way of helping out his loved ones.
He is grateful for this new opportunity that he is receiving; it will be of great help to him.
Agradece por esta nueva oportunidad que recibe que le será de mucha ayuda.
Previous Loan DetailsReinerio has been a client of the foundation for several years. He is single and lives in the city of Luque. He has had a taxi and been working independently for two years. He has successfully completed five loan cycles with the foundation. Reinerio is applying for another loan to buy a new t... More from Reinerio's previous loan »
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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