Update on Grece LorenaWith her previous Kiva loan, Grece bought baby clothes, shoes for school and toys that she sold quickly and made money on. It went really well for her and, consequently, for her family. That’s why she is now requesting a new loan so she can prepare for the new school season. Mothers have already shown her the lists of school supplies and she’d like to buy notebooks, paper, pens, colored pencils, paint, erasers, etc. Grece sends the following message to Kiva funders: “I’m very grateful for the help I’ve received and the best way to show it is by paying punctually.”
Previous Loan DetailsGrece Lorena C., 22, is the owner of a store called “Miscelanea Grece” that she started when she decided to make her biggest bedroom in her house into a small variety store. She took advantage of the location of the house on a busy street in Puerto Colombia. There she lives with her husband who… More from Grece Lorena'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