Update on Manuel AntonioManuel is from the city of Managua. He works as a merchant, selling eyeglasses and CDs, which has generated good revenues for him. He is grateful to Kiva and MiCredito since he has increased his inventory and he has managed to buy more products to offer to his customers.
Manuel is requesting a new loan in order to buy sunglasses, luxury glasses and a variety of musical CDs. His goal is to offer a wide selection of eyeglasses and music. He thinks that this loan will be a great help because he will earn better revenues and be able to continue to invest in his business.
Previous Loan DetailsManuel lives in Las Canoas, is married, and has three children, ages 10, 4, and 3, who are in elementary school. He has been selling quality sunglasses for a year. His first job was vocalist for a band that played at restaurants in Managua. Then he decided to sell music CDs and glasses. Among other… More from Manuel Antonio'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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