Update on Grace PatriciaGrace, twenty-nine years old, received a Kiva loan which she used to purchase school supplies, feminine accessories, items to make piñatas, and general paper supplies. Her business was well-supplied; she sold everything and invested again. Her working capital has slowly increased, and today she plans to agree to a new Kiva loan, which she will use to purchase school supplies, costume jewelry merchandise. She will have success because, with God’s help, these are the items her customers will buy, keeping in mind that the coming season is when children prepare to go back to school, and when the carnival festival occurs, when many people want costume jewelry. Her message to the Kiva creditors is the following: “I am very grateful for the support you provide me with these loans, which are a very helpful for me and for everyone in my family.”
Previous Loan DetailsGrace Patricia M. is a 28 year-old woman who lives with her husband and 9 year-old son in Por Fin neighborhood, in the south-west of the city of Barranquilla. She has a general store where she sells decorative items, shoes and plastic products. She displays different products in her business acc... More from Grace Patricia'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