Update on RosalbaRosalba used her previous Kiva loan to purchase supplies and materials for making bags and briefcases that she sold during the school season. She is now applying for a new loan, which she will use to purchase faux leather, leather, rubber, and other supplies for making more bags and briefcases. Her investment will be successful because she has a very good customer base and is appreciated by her clientele. Rosalba says to Kiva lenders, “There are a lot of happy small business people thanks to you.”
Previous Loan DetailsIn the Carrizal neighborhood of the city of Barranquilla there are many people who are Rosalba L.'s customers, because they know the quality of her work. She has been making handbags in her small workshop for 10 years that she sells in different municipalities in the Atlántico, Córdoba and Bolív... More from Rosalba'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