Nelly Del Carmen
Update on Nelly Del CarmenWith her previous Kiva loan, Nelly purchased a greater quantity of merchandise such as clothing, ornaments, and even phone minute reloading plans to expand her telecommunications services offerings. Currently, she is planning to invest it in her business at Christmastime and New Year's, since she knows that at this time investment is usually very effective. This is why she is taking out a new Kiva loan, with which she will purchase children's and women's clothing, Christmas ornaments, and new minutes plans, so that her customers will have the opportunity to be closer to their families and will be able to wish them a "happy and prosperous 2012" through the telecommunications services Nelly offers. She asks that Kiva lenders "continue helping to continue advancing".
Previous Loan DetailsNelly is from Barranquilla and has two children, ages eight and five years old. For the last eight years, she has worked selling merchandise on credit, selling sweets, and offering telecommunications services by the minute. She does this to create income, sustain her family, and support her… More from Nelly Del Carmen'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