Update on JuanaWith her previous Kiva loan, Juana bought men’s sweaters, bed sheet sets and towels, and also invested in buying a large quantity of seafood. She was able to sell everything and made a little more income than usual.
Now Juana is gearing up for Easter and needs lots of seafood, as it’s the time of year her sales go up. This is because the community celebrates its closeness to Jesus with orations and sacrifices, and keeping with tradition means giving up beef, so people consume more of what Juana sells. Her message to the Kiva lenders is the following: “Thank you for the help I’ve received so far and may God bless you so you continue to help more people.”
Previous Loan DetailsJuana Barón wants to obtain a second Kiva loan. She said that she invested part of her first Kiva loan in shrimp and seafood for sale. In addition, she was able to buy bedding sets that she had on order. Juana needs another Kiva loan because she has new customers who are requesting shrimp, sea... More from Juana'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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