Update on Faride EstherFaride is very pleased with her previous Kiva loan. She was able to use it to buy a display cabinet, cosmetics, accessories and home goods, which she sold on quickly. Her business has improved substantially since she received her Kiva loan and she is now applying for a second one. She will use it to buy handbags, hair products, clothes and footwear – she has a lot of client orders to fulfil. This is her message to Kiva’s lenders: “Thank you for having allowed me to progress with my project, which is so important to me. Thanks to you and to God in particular, I have succeeded in building up my business”.
Previous Loan DetailsSince she was married 13 years ago, she has taken care of her home, and so as not to neglect it she created her own business. This is how Faride Carbonó began her microbusiness “Miscelánea y variedades Fari” (Fari's Variety and Miscellany). She is a married woman with two children ages 9 and 12… More from Faride Esther'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