Update on Gessler StivensonWith his previous loan, Gessler bought steel jewlery and name-brand sports shoes which he sold for a profit. Now he is applying for a new CrediKiva loan to buy chains, rings, pendants and bracelets made out of the same material to continue increasing his working capital. His customers are mainly university students where he studies, so he wants to take advantage and fill the orders and reach out to even more customers.
He is grateful to Kiva because with the loan he was able to expand his customer base and collect outstanding payments.
Previous Loan DetailsGessler Stivenson is 22 years old and he sells various merchandise, such as clothes and shoes. He also sells jewelry made with Brazilian goldfill and silver. Gessler was born in a Santanderean home (people who are born in the Santander department), where independent business and a great work ethi... More from Gessler Stivenson'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