Update on Ledis EstherEver since Ledis got her Kiva loan her business has increased in value; she has more orders, is teaching crafts classes and her sales have increased.
She is currently applying for her Kiva loan that she’ll use to buy supplies to make foam crafts and to buy new tools that will help her polish her crafts.
Her goal for later on is to continue perfecting her art through specialized courses that she wants to alternate with cooking classes to offer food to her clientele.
Her message to lenders is the following: “We are very grateful to the lenders and hope that they will continue supporting us so that we can get ahead with our businesses and make them really pretty in the not too distant future.”
Previous Loan DetailsLedis is 53 years old and has two children aged 29 and 32. She lives in the neighborhood of Costa Hermosa in the town of Soledad. She works making crafts and selling a variety of merchandise. Her business started ten years ago selling clothing and shoes. As Ledis learned crafting techniques… More from Ledis Esther'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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