Update on RafaelRafael is applying for his second Kiva loan because he wants to buy soft drinks and other beverages to sell. He is getting ready for the end of the year, when he sales increase. His previous Kiva loan was invested in 30 cases of beer and 8 cases of Poni Malta. He sold these, reinvested and used the new profit for his wellbeing and his family's. When speaking of the financiers, Rafael says: "Thanks to them I have been able to make my business grow and been able to improve my own quality of life and my family's." He also expresses that thanks to his work in the business, he feels like a useful person to his family and society.
Previous Loan DetailsDon Rafael C. A. is 77 years old and owns a small business that he started in 1991 when he left his work in a company to give way to his enterprising spirit and work independently. He sell beers, sodas, juices, candy and cookies in the La Magdalena neighborhood where he lives with his wife. Don… More from Rafael'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.
215View loans »
Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Nov 11, 2011
- Nov 18, 2011
- Currency Exchange Loss:
- Dec 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.