Update on RafaelRafael used his previous Credikiva loan to buy merchandise which he then sold, and also to invest in materials and supplies to make all kinds of clothing, which was very helpful. Recently he has bought two machines and sales have increased. Currently Rafael wants to take advantage of the December season when sales increase and there is greater turnover of his products, so he can come up with new designs. This is why he is requesting a new loan to buy fabric and sewing supplies. In this way he will be able to dress the families in a festive mode for the New Year's celebrations. Rafael said to his counselor, "Thank you for helping me and many other people who benefit from the loans given through the Fundación Mario Santo Domingo.".
Previous Loan DetailsRafael Rodríquez P. lives in the city of Cartagena. He sells clothes there in a very unique way. He buys the fabric and supplies. He then orders the clothes to be made, especially women’s clothes. He takes advantage of his mother’s seamstress shop, which she has had for over 20 years. Rafael’s… 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.
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