Update on Eduardo JoséWith his last 'credikiva' (loan from Kiva), Eduardo purchased at wholesale cell phone accessories and replacement parts which he then sold, earning money from the sale. At present, he is applying for another Kiva loan, with which he will buy more cell phone parts and accessories in larger volume, that he will import directly from China. His message to Kiva investors is the following: "You are doing very noble work to help small entreprenuers all over the world who just need a loan to advance their families!"
Previous Loan DetailsEduardo is a man of 29 who lives with his wife and two year old son. He has a business in the Jardín neighborhood of the city of Barranquilla, where he distributes accessories for mobile phones. He's been in this business for a year; after getting experience in finance and commerce, he began his… More from Eduardo José'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