Update on Gustavo HarolGustavo is an enterprising, 54-year-old man. He has a spouse and a 3-year-old son. His business for the last five years has been a home-based grocery store and he also raises pigs and chickens and butchers pigs and beef. His spouse manages the grocery store and he the other businesses. He needs the loan to better stock the grocery store and to buy basic grains like rice, beans, sugar, oil, soap, Ace [detergent], chlorine bleach, snacks, dairy products, cigarettes, toilet paper, scented soap and soft-drinks at wholesale.
Previous Loan DetailsGustavo Harol owns a distribution center, an activity he has started with few products while progressively increasing his stock. He now sells basic grains, vegetables and eggs among other items. He also butchers pig and beef meat during the weekends. This loan will be used to principally for ric... More from Gustavo Harol's previous loan »
About ADIMLocated in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.
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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