Update on Jose RogelioJosé says that these loans are a favorable source of financing that helps to improve sales. For this reason, he needs a new loan to invest in the making of pupusas, a thick corn tortilla stuffed with various fillings. This investment will allow him to purchase cabbage, tomatoes, onions, fried meat, beans, corn, quesillo (a soft cheese), and other products.
The previous loan allowed him to improve his sales, and with that he improved the economic stability of his family.
El crédito anterior le permitió mejorar sus ventas y con ello se optimizo la estabilidad económica de su familia.
Previous Loan DetailsJosé is married and has two children, ages 14 and 18. He runs a " pupusa" [stuffed tortillas] business, which he started because he needed money for the household. His sales schedule is from 6 a.m. until 6 p.m. Currently José needs to strengthen his business, so he's requesting a loan to buy... More from Jose Rogelio'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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