Update on Carmen CeciliaCarmen is very happy because she was able to use her previous Kiva loan to buy everything she needed to respond to her clientele: materials like fabric and surgical supplies that she used to increase production. She’s now applying for her second Kiva loan to continue expanding her horizons because her clientele has increased and now she’s going to start making elegant accessories to cover chairs for festive events that she has pending orders for; this is a good market. At present, Fundación Mario Santo Domingo has nominated her for the Colombian Citi-Action Micro Entrepreneur award and she is very proud of this opportunity.
Previous Loan DetailsCarmen is 62 years old, married, and has three children between the ages of 30 and 48. She lives in the neighborhood of La Unión in southern Barranquilla. Carmen is a very spiritual and responsible woman. She participates in a prayer group in which her neighbors enjoy the year-end celebrations… More from Carmen Cecilia's previous loan »
About Fundación Mario Santo DomingoFundación Mario Santo Domingo (FMSD) is a non-profit organization in northern Colombia dedicated to developing programs for the country’s poorest communities. In addition to numerous social services, FMSD runs a microfinance program to strengthen micro-businesses in the areas where it works. The organization also offers several non-financial components as part of this program, including training to help entrepreneurs start their own businesses.
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