Update on Edgardo JoseWith his previous loan, Edgardo bought synthetic leather, rubber, soles, and buckles. He has done very well and now plans to acquire an industrial machine for making handbags and materials for producing sandals, shoes, purses, and belts.
Edgardo says, “I am very grateful for the help that has been given to me because it has benefited my business and my family.”
Previous Loan DetailsEdgardo has a shoemaker's workshop in his home in which he makes sandals, bags, purses, belts and all kinds of shoes, especially for women. His experience in the trade was acquired when he worked for 9 years in a large footwear company which operated an industrial free-trade zone. There, in spi... More from Edgardo Jose'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