Update on IvánIvan is applying for a new Kiva loan, because with his previous loan he was able to increase his capital, buy in larger quantities, and sell everything he bought, including snacks, candy, water bottles, and cell phone plans and accessories. With this new Kiva loan, he will purchase more of the same. He is very pleased, because the local government is going to relocate his business in a new shopping center where he can display his products in an orderly way and add new products. He sends "Many thanks to Kiva and to FMSD, because with their financial support he has made a lot of progress, both in his personal life and his business."
Previous Loan DetailsIvan is applying for his second Kiva loan, which he will use to buy snacks, caramels and bags of water in bulk. He is very close to the Metropolitan Stadium in BarranquilL., the most important sports venue in the city, which soon will be the stage for the U-20 World Cup. For that reason he is pre... More from Iván'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.
465View loans »
Success!! The loan was 100% repaid