Update on Henry ManuelWith his previous Kiva loan, Henry purchased milk purchased in the municipality of Concordia (department of Magdalena), where his parents and siblings live. He also sold the cheese and whey that they sent him and managed to earn more customers and more money. Henry was quite pleased and will buy these products once again, to respond to his increasing customer base. His message to funders is as follows: "Thank you for supporting me with my business which I have grown by investing the capital to earn more growth"
Previous Loan DetailsHenry Manuel S., age 29, lives in the "7 de Abril" neighborhood in the city of Barranquilla, with his wife and son, age 7. He arrived in Barranquilla from the town of Concordia in the department of Magdalena, got married and had a son. He decided to earn an income doing what he knew best which… More from Henry Manuel'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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