Update on Zurelly AntoniaZuelly used her previous Kiva loan to buy a hair washing sink and also products to stock her salon. She is very satisfied and hopes to make a new investment in her children’s beauty salon because the December festivities are approaching and her volume of sales will increase and she must be prepared. She is applying for her second Kiva loan to buy supplies like gel, lacquer, coloring and hair decorations in larger amounts so that she’ll qualify for discounts and to have on hand everything she needs to respond to the demand of her children customers and their mothers who want to see them elegant for the approaching festivities.
Previous Loan DetailsZurelly is a young woman who is married and has two children. Anyone who has met her knows the look on her face inspires both tenderness and confidence, qualities that have helped her grow the customer base of her business called “Happy Cuts and Styles for Little Heads”. The reason for her… More from Zurelly Antonia'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