Update on MartinaWith her last CrediKiva, Martina purchased maize, meat, chicken and eggs, and carried out some maintenance to her stove and her cooler. Now she is in a less stressful situation, because everything is in good working order, but she still has hopes to improve her position. Her current goal is to achieve a more comfortable environment for herself and her customers, so she is asking for a loan to renovate her place of work. She will buy basic materials and a new cooler to increase her refrigeration space, because there is not enough space for currently her meat and vegetables. With this investment she will feel much more positive because, little by little, she is managing to bring her business to the appropriate standards for handling food; the meat will be properly refrigerated and she will also be able to obtain discounts for buying in greater volume, something which guarantees the success of her investment. Her message to Kiva's lenders is the following: ' Your support is very important. You are giving help to small business owners so that they can move forward and achieve their dreams of giving a good life to their families.'
Previous Loan DetailsMartina R. P., a native of San Vicente de Chucurí, a municipality in the Santander department, lives in the suburb of Ciudadela Metropolitana in the Soledad municipality, part of the metropolitan area of Barranquilla. She is a mother and head of the family, and lives with her 20 year old son who… More from Martina'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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Success!! The loan was 100% repaid