Update on SergioSergio invested his previous loan in materials to supply his furniture and vehicle upholstery business. He continued producing client orders, his income is improved, he maintained a good credit record, and is blessed with better circumstances in his family life.
Sergio is asking for a new loan to buy fabric, leather, foam, boards, glue, etc., so he will be supplied with the raw materials he needs for his work.
El Sr.: Sergio solicita un nuevo crédito para comprar telas, cuero, espuma, tablas, pegamento, etc., así estará abastecido de la materia prima con la que realiza sus trabajos.
Previous Loan DetailsSergio is requesting a new loan because he believes it will help him to develop his business. He will use the funds to purchase fabric and leather to upholster furniture and vehicles. The loan will help him to have sufficient materials to do quality work. Earlier, Sergio requested a loan to… More from Sergio'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.
About El Salvador
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