Update on Gerardo OswaldoGerardo needs to invest capital to service his vehicle (mototaxi). He will buy new tires and change oil and others. He does all this aiming at providing better customer service and increased security on his trips. He used the previous loan to improve his unit. His income increased so he was able to make his payments and he provided better service to his customers. He’s motivated to buy a new mototaxi and to continue to support his daughter’s schooling and to provide everything necessary at home.
Está motivado por adquirir una nueva moto taxi, y así seguir apoyando a su hija en sus estudios, brindarle lo necesario en su hogar.
Previous Loan DetailsGerardo has decided to request a new loan so that he can buy parts to improve the condition of his motorcycle taxi. His expenses include fixing the electrical system, changing the oil, and replacing the tires. These updates will guarantee that he can provide good service to his customers.
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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