Update on Gleiny LuzWith her previous Kiva loan Gleiny bought clothes, cosmetics, perfume, footwear, novelty items, and natural products, which went well for her and she earned money. Currently, with her second Kiva loan, she is planning to buy large quantities of a variety of merchandise, since she is preparing for the high December season and she plans to please her customers and sell a lot to increase her profits.
Her message to Kiva lenders is the following: "It's a great financial help. I'm very grateful and I hope to continue counting on Kiva and the Fundación to continue increasing my sales and profits."
Previous Loan DetailsClothes, cosmetics, and natural products are Gleiny P.’s daily bread and butter. She is a 27 year old woman who lives in the 20 de Julio neighborhood. Every day she is involved with this merchandise. She selects it, pays for it, sets the prices, displays it, and sells it. This way she gets new… More from Gleiny Luz'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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