Update on RafaelRafael needs to opt for a new loan to strengthen his business; this investment will help him to buy a belt, disks, and other items to ensure that the mill is in good condition and thus offer a better service to his customers.
The previous loan helped him to improve his income and he obtained more satisfied customers. His financial conditions and family circumstances have improved to a great degree.
El crédito anterior le ayudo a mejorar sus ingresos y obtuvo más clientes satisfechos. Las condiciones económicas y las circunstancias familiares han mejorado en gran medida.
Previous Loan DetailsRafael decided to apply for a new loan to makes his business stronger by doing repairs. He will buy replacement parts for the mills and gasoline for storage and to run the equipment. He expects this investment to strengthen his business. The previous loan was successful, as he has more satisfied… More from Rafael'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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