Update on IlvaIlva is very satisfied with her Kiva loan, since from the city of Bucaramanga, characterized by the perfecting of the manufacture of cloth and leather products, she was sent clothing, footwear, and leather purses of inimitable quality, and she sold them in the city of Barranquilla to her usual customers who are familiar with her route and who have faith in the quality of her products. Her primary customers are derived from the middle-class neighborhoods very near the area where she lives with her family, to whom she offers retail products on credit and occasionally for cash.
Currently she is applying for her seventh loan with Fundación Mario Santo Domingo and her second Kiva loan, with which she will buy footwear and dresses which have already been ordered, fulfilling orders which families have placed for the Christmas and year-end festivities. These families wish to receive 2012 in quite elegant fashion, and so they will, with the merchandise Ilva will sell them.
Previous Loan DetailsIlva M. D. G. is 62 years old and lives with her husband (also in the photo) in the José Antonio Galán neighborhood of Barranquilla. She sells several types of merchandise, especially footwear, and she is asking for this loan of 2,300 Colombian pesos so she can buy greater quantities of shoes,… More from Ilva'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