Update on MiguelMiguel is applying for his second credikiva with which he will buy pigs, sheep for slaughter, taking advantage of the good time for his business because sales have increased and he is able to sell them easily retail and wholesale. With his good sales he will have greater earnings to support his home and increase his wellbeing. With his previous credikiva, Miguel, did very well which is why he is so content since he bought the merchandize needed to make honey like frames, honeycombs, boxes and roofs for his beehives.
Previous Loan DetailsMiguel Alberto is 36 years old and a resident of San Jacinto, a municipality located in the department of Bolívar. He has a very traditional business: he is dedicated to beekeeping, and also to buying pigs and cows to then sell in parts. The animal is sacrificed, removing the skin, viscera,… More from Miguel'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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