Update on Luz MarinaThis is the 5th Kiva loan that Luz Marina has gotten to pay for her daughter’s university education. With the last Kiva loan she paid for the 8th university semester and with the 9th Kiva loan she will pay for the 9th. Very soon she will finish her education and be able to achieve one of her main goals and the dream of her daughter-- to be a public accountant. Luz Marina gives respect to her lenders for the great help they’ve given her daughter: “Thank you for supporting her in her education. My daughter and I thank you.” She says that it’s the only way for her daughter to get ahead since she doesn’t have a better option.
Previous Loan DetailsSoon Luz Marina’s daughter will be starting her new semester of studying to be an accountant, thanks to the Kiva loans she’s gotten. Her daughter and the rest of the family are happy and grateful. Soon Kiva and “Fundaciòn Mario Santo Domingo,” through their support, will produce one more… More from Luz Marina'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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