Update on Diro EnriqueWith his Kiva loan Diro modified his place of business and bought a pool table. Now his customers are more comfortable and he is more satisfied with his investment. His future goal is to change the floor of his place, add a second floor for an apartment, and have peace in his old age. Currently, he is applying for a new Kiva loan with which he will buy beverages so his business will be well-stocked. This way he will be able to serve his customers for New Year's celebrations as this is when the most beer, soda and other refreshments and liquor are consumed. His message to Kiva lenders is he hopes that "you continue with the social projects to help small businesses."
Previous Loan DetailsEl Carmen is a municipality located in the valley called “Montes de María,” in the center of the department of Bolívar, a land which inspired Lucho Bermúdez with the eyes of love to compose the beautiful "Porro" which carries his name. This is the place where Diro Enrique lives and operates his b... More from Diro Enrique'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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