Update on Alcira IsabelAlcira is preparing to receive a new Kiva loan and is very happy because she bought on installment the basic materials and supplies in order to make new designs. The new loan will be used to buy fabric and thread at wholesale price with which she can successfully increase her production and maximize value and generate higher earnings and this is her exact plan. Her message to the Kiva funders is as follows, “I thank them with all my heart for the help given to me and I hope that they continue to support me.”
Previous Loan DetailsAlcira is a women who is particularly interesting because of her profound creativity and incredible capacity for work. She is a native of San Bernardo del Viento, near Cartagena, where her father worked in the fields and her mother tailored clothing for friends and relatives. Alcira learned the art… More from Alcira Isabel'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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