Update on Oscar OrlandoOscar requires a new loan because he needs additional working capital to sustain his business. Oscar will use these loan funds to purchase screws, keys, pliers, an air gun, and other tools.
Oscar's previous loan allowed him to improve his business and grow his customer base. His financial situation has improved.
El préstamo anterior le permitió mejorar su negocio y aumento la clientela. Las condiciones económicas se han optimizado.
Previous Loan DetailsOscar is 29 years old, he is married and he has a child. He owns a repair shop, an activity he has been engaged in for five years and where he employs two people. He has learned this job with one of his uncles and he works Mondays to Fridays. He currently needs to buy tools for his activity, and… More from Oscar Orlando'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.
About El Salvador
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Success!! The loan was 100% repaid