Update on YolandaYolanda used her previous Kiva loan to take advantage of the second half of 2010, when most clothing sales take place. Her sales increased significantly. Since she gained some customers with for this clothing business, she will once again invest in fabrics to make clothing in large quantity. This will allow her to gain some discounts and also satisfy her customers, who are preparing to dress up in celebration of secretary’s day, and also another important day for Columbian families, Mother’s Day. Her message to Kiva lenders is, “I’m very grateful to Kiva and Fundación Mario Santo Domingo for continuing to support my business.”
Previous Loan DetailsYolanda B. M. lives in the 20 de Julio neighborhood [named for July 20th, Colombia's Independence Day]. It is an area that combines a commercial zone and recreation area with a residential zone full of multi-family homes. She runs a business making and selling clothes, which she started in 1995,… More from Yolanda'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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