Update on Fredis ArmandoFredis needs to opt for more working capital to manufacture wood furniture. This investment will help him buy wood and paint to carry out his activity and then sell to his customers.
His previous loan made it possible for him to strengthen his business and used profits to help him family and to repay his loans. His dream is to make the business grow and provide better quality of life for his family.
El crédito anterior le permitió fortalecer su negocio y con las ganancias a podido apoyar a su familia y cancelar sus préstamos, su sueño es hacer crecer su negocio y brindarle una mejor calidad de vida a su familia.
Previous Loan DetailsFredis is requesting a new loan because he needs to strengthen his business with more working capital. He plans to invest in wood and paint to make furniture, which will allow him to improve the conditions of his business and his sales. His last loan helped him strengthen his business with… More from Fredis Armando'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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