Update on Nubia EstherNubia used her Kiva loan to buy small appliances that she sold to her customers on credit thus increasing her accounts receivable portfolio. She is currently applying for a new Kiva loan to buy washing machines because she will soon add washing machine services to her income. She will offer the service especially to housewives so that they can rest a bit from manual washing under the hot sun. Her message to Kiva lenders is the following: “Thank you for trusting in my business. I did very well during the loan.”
Previous Loan DetailsNubia plans to use the loan that she is currently applying for to buy food products, cold cuts, clothes and small electrical appliances that she will buy in Maicao, a town on the border with neighboring Venezuela. She will sell her products in Soledad and Barranquilla, in Atlántico department. ... More from Nubia Esther'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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