Maria Del Rosario
Update on Maria Del RosarioMaría bought supplies to make piñatas like paper, silicone, fabric, construction paper and patterns and also bought a blender. She is currently applying for a new Kiva loan to buy high quality ingredients, chocolate fountains, cocktail shakers, muffin pans, a microwave oven to melt chocolate and various investments. The success of her investment rests in that all these tools will help her diversify her offer and make María’s work more efficient.
Her message to lenders is the following: “I am grateful to Fundación Mario Santo Domingo and to Kiva for having allowed me to grow and prosper in the business since it makes my work easier and improves the quality of my products making many people happy with the services rendered.”
Previous Loan DetailsMaria G. lives in the Los Robles housing development and there, she works making party decorations. Being a married woman and the mother of three children (6, 10, and 16 years old), this business has allowed her to respond to her family obligation while earning income for her family’s growth and… More from Maria Del Rosario'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