Update on Rafael AntonioRafael is applying for a new Kiva loan. He is very happy with the merchandise (men's, women's and sports shoes) which he bought with his previous loan. He sold everything and earned discounts. He will use this current loan to buy toys and clothes to respond to the season which is approaching in December. His investment will be successful because it is based on his customers' demand for merchandise which he will buy at discounted prices. His message to Kiva lenders is the following: "Please continue supporting us with your Kiva loans. We are an important link in our country's economy and can help our country to grow".
Previous Loan DetailsRafael T. is a happy and healthy 81 year-old man who sells clothes, footwear and small electrical appliances. He has been in this business since 1996, the year he first joined Fundación Mario Santo Domingo, from whom he has now received 10 loans. This small businessman's customers are mainly… More from Rafael Antonio'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