Update on MarggiMarggi used her previous loan to buy bakery supplies, soft drinks and sweet treats. She hired a baker and started a marketing campaign. At first, things went very well because she got a contract with the children's homes in her state and her profits increased. However, as her baker didn't manage to carry out his work, she is now buying bakery products so that she can respond to the good contract that she has. This is why she is applying for a new Kiva loan. She will use it to buy bread in large volumes so that she can continue as the supplier of these homes because her business with them is going very well and this is due to her Kiva loan.
Right now, Marggi buys goods wholesale and she is very satisfied with her permanent investment in bread, eggs, sweet treats and also other food products and cleaning products that she sells from her sales premises.
Previous Loan DetailsMarggi Ramírez lives in Malambo with her spouse and 18-year-old son. This municipality is part of Barranquilla’s metropolitan area. Marggi has her own business called: “Miscelánea y Panadería Jorgito,” which opened for business 7 years ago selling catalogue cosmetics. Gradually she added other... More from Marggi'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