Update on Monica AntoniaMónica used her last Kiva loan to buy beauty products, shoes, sweaters, jeans, school supplies, etc. With all this, she was able to increase her business capital and improve the range of goods she offers. She is currently applying for a new Kiva loan because the Christmas and New Year period is coming up, and this is a time when she has to be ready with the products that her customer typically buy - things like shoes, clothes, and bags. Her message to her funders is the following: "I am grateful to all the people who have helped us through the contributions that they have made so that my business can succeed and my income has increased notably and I hope you will continue helping us."
Previous Loan DetailsMónica C. has a small shop of miscellaneous goods where she sells perfume, shoes, clothing, underwear, fancy clothing, accessories, and stationery. She is married and has two children, 17 and 12 respectively, and in her spare time she runs her business. Her experience as a small businesswoman began… More from Monica 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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