Update on AlvaroAlvaro recognizes the necessity of applying for a new loan, since he requires more working capital if he is to continue cultivating basic grains. This investment will allow him to buy agricultural inputs such as manure, herbicides, pesticides, and insecticides, among other inputs.
Alvaro comments that his previous loan helped him to augment production and improved his income. These earnings were invested in household expenses. Alvaro's economic conditions have improved, as have the circumstances of his family.
Comenta el Sr. Alvaro que el crédito anterior le ayudo a aumentar la producción y sus ingresos, estas ganancias la invierte en los gastos del hogar. Las condiciones económicas han mejorado y las circunstancias familiares asimismo.
Previous Loan DetailsAlvaro is requesting a new loan because he needs to invest in his production of basic grains. He will be able to buy compost and corn seeds.
His previous loan helped with increasing his production and his earnings. The profits were invested in his household expenses. His family’s… More from Alvaro'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