Update on AngelloAngello decided to supplement his construction business with repairing bicycles because this type of business does not require a big investment of capital. He had learned this skill from his uncle. Angello operates the two businesses in the same place for easy monitoring. He will be able to stock his business with building materials such as nails and cement and will also buy spanners and bicycle tubes to have his business moving well. Angello will be able to raise more income with the two businesses. Angello is a hardworking businessman.
Previous Loan DetailsAngello is a 45-year-old married man with five children ages 17,10, 8, 6 and 3. Four of his children go to school and the other will start school soon. His construction business has been in operation since 1990 and, through hard work, Angello has prospered through the years. He sells mainly ... More from Angello'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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