Update on Irene MariaThis applicant, Irene Maria, is currently seeking her second credikiva, with which she plans to respond to her clients orders for the school season. Her catalogue campaigns bring very good discounts on creams and perfumes, and she also has orders for multipurpose products and uniforms, which she will invest in with this loan.
Irene Maria has managed to increase the number of customers, and as she wants to be timely in serving them she has requested a second loan. The products have been ordered, and her investment will be successful as it is based on existing orders. Additionally, she can take advantage of the special prices offered in her catalogues.
Her message to the funders of Kiva is: "Thank you for your support because it has allowed me to grow my business."
Previous Loan DetailsIrene was born in Barranquilla and at the age of 17, she married and dedicated herself to the home to give good care to her 4 children, today 34 to 43 years old. Thirteen years later, she began to work in a clothing manufacturing enterprise, to which she owes her enterprising experience, which… More from Irene Maria'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