Update on Nory EdithNory bought yarn and produced hammocks and bags that she sold to her customers. She also invested her profits in another business that sells cheese and agricultural and livestock products from her own home. Currently she is applying for her new Kiva loan, part of which she will use to buy raw materials and handicraft supplies to produce hammocks and bags; the other part she will invest in her cheese business as she has obtained good profits and a fast turnaround of her capital which makes her very happy. Her message to the financial supporters is the following: "You have been very collaborative because I attain low interest rates, I work with greater comfort and I'm thankful and I will continue making my payments."
Previous Loan DetailsNory R. G., 44, lives in San Jacinto Bolívar with her husband, who is a farmer, and their two children, who are 20 and 17 years old. She manufactures hammocks and bags. She inherited these skills from her mother and she has done this kind of work since she was 12 years old. She finishe... More from Nory Edith'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