Update on Adriana MarcelaAdriana used her Kiva loan to buy peanuts, cashew seeds, pistachio nuts, cinnamon, and chamomile. She packaged them and they sold well. She is currently applying for a new Kiva loan to buy products with fast turnover such as cinnamon, and cloves because Holy Week is coming, the season when her customers make their own sweets and add just the products that Adriana sells. She promises that the loan will be successful and will make the money quickly, increasing her working capital.
Her message to the Kiva financiers is “I appreciate the trust you have placed in me with the last loan. I hope that you also support me in this new request since the financing helped me strengthen my earnings every day”.
Previous Loan DetailsAdriana Carbò is a young woman, 22 years old, who owns a business selling dried fruit, olives and spices in Barranquilla's town center, where much of the commercial activities from the southern part of the city take place. Her business has been growing for three years; Adriana began managing ... More from Adriana Marcela'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