Update on Jesus SalvadorJesus needs a new loan because he needs more working capital to invest into his frozen treats business. This investment will help him buy some diverse merchandise such as sorbet, popsicles, cups, cones, and other things.
Jesus says that the previous loan helped him to increase his inventory and he increased his revenue. This has allowed him to provide the family with better financial conditions and their circumstances have improved.
Don Jesús cuenta que el crédito anterior le ayudo a incrementar sus inventarios y obtuvo mayores ingresos, con ello ha logrado aportar a la familia. Las condiciones económicas y las circunstancias familiares han mejorado.
Previous Loan DetailsJesus, 37, is married and his wife is also 37 years old. They have three children that are all minors and are in schooling. He manages a sorbet [ice cream] shop, which he has owned for approximately 15 years. He has eight employees who sell the sorbet on the outskirts of the city. He is reque... More from Jesus Salvador'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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