Update on Norelvis AlejandraNorelvis is extending her investment doing a commercial activity with the same customers from her other business of production of articles in leather and their derivatives. With her previous Kiva credit she purchased various merchandise like cell phones and sweaters that she sold and with which she responded to her customers. She is now applying for a new loan with which she will buy cell phones, sweaters, and clothes in general in order to fulfill commitments acquired with her loyal shoppers, especially in the student age. This will be a successful investment because she adjusts her purchases to the requirements of each season marks as peak in sales. She is grateful to the Kiva financiers and asks "that they continue with this initiative of helping people with great dreams."
Previous Loan DetailsNorelvys Alejandra V. is a 21 year old young woman who lives with her husband and four year old son in the Carrizal neighborhood. Her family works in the leatherwork trade; they make bags, briefcases, and also make t-shirts, robes, and pants. Norelvys learned this trade, along with her… More from Norelvis Alejandra'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