Update on Ricardo DomingoEvery day after having enjoyed his hot cup of coffee Ricardo leaves for his small stand of variety items in the market. He gives excellent service so he has created a large clientele. He is 30 years old, married and has a child. He is a friendly and hard-working man.
He started his business 5 years ago with the objective of generating better income to provide his family with quality education and health services. His wife and his sister has been very supportive.
He is requesting his second loan to increase his capital production. He needs to buy cosmetics, beauty products, jewelery etc. Ricardo is grateful for his first loan with KIva through MiCrédito, as he was able to invest in his business and from the profits make improvements to his house and cover payments to legalize it. One of his future plans is to expand his business, creating a larger stand and offering more product.
Él solicita el segundo crédito para incrementar la producción de su capital, requiere comprar cosméticos, productos de limpieza, bisutería, entre otros. Ricardo está muy agradecido con el primer financiamiento de KIVA a través de MiCrédito, puesto que logró invertir en el negocio y de las ganancias logró mejorar las condiciones de su vivienda y saldar pagos de legalización. Uno de sus planes futuros es hacer crecer su negocio, establecer un puesto más grande y ofrecer más productos.
Previous Loan DetailsRicardo lives in the city of Granada. He sells a variety of products such as medicines and cosmetics. He is married and has two children, who are in primary school. He began his business with his mother, but she became ill and he had to take charge. Furthermore, ever since he was a boy, he… More from Ricardo Domingo'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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