Update on Luis AlcidesLuis needs capital to complete the delivery of outstanding orders. He needs to buy iron, tubes and sheeting in order to continue working. With his last loan he bought the materials necessary to cover the demands of that time, increased his income, has more clients and paid off his debt.
Con el préstamo anterior compro los materiales necesarios para cubrir la demanda en ese momento, mejoro sus ingresos, tiene más clientes y a cancelado sus deudas.
Previous Loan DetailsLuis, who has a metal-working workshop, lives with his wife and two sons who are 28 and 22 years old. The two children are still dependent on him, but the eldest helps in the workshop. His work schedule is from 8:00 am to 4:00 pm. This business grew from his own initiative, and its disadvantage... More from Luis Alcides'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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