Update on AbelardoAbelardo, 53, is father of four children and a merchant by profession working making and selling tortillas. He’s succeeded in getting ahead with much effort. He’s very grateful to Kiva and MiCrédito because his business prospered and he’s been able to meet customer demand.
He’s asking for a loan once again to buy corn at wholesale, lime powder and bags, among others, aiming at providing better quality tortillas for his clientele. He feels that the loan will be beneficial for it will increase sales and he’ll earn a higher income level thus reaching his dream of supporting his children and offering them better quality of life.
Previous Loan Details53-year-old Abelardo is a small businessman from Mal Paisillo, on the outskirts of León. He is married and the father of four children. Abelardo's business is making and selling tortillas. He has owned his own tortilla business for more than 4 years now. Owing to his family's poor financial… More from Abelardo'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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Success!! The loan was 100% repaid