Update on Sandra VirginiaSandra used her previous CrediKiva loan to buy wholesale raw materials and supplies, two washing machines and catalogue merchandise. She was able to profit by finding good discounts and selling quickly to her customers. Today she is requesting a loan to buy goods on sale, which she has already ordered by catalogue and will sell at a good price to her best customers. She also plans to buy ingredients for her fast food business and pay for maintenance for her washing machines. She sends the following message to Kiva lenders: "I am very grateful to the Mario Santo Domingo Foundation and everyone who has helped me, for the support given to people like us who have no way of getting approval for a regular loan in today's market conditions".
Previous Loan DetailsSandra now has an additional washing machine and has gradually increased her laundry service offer. Her previous loan helped her in her other business making meals because she bought raw materials and supplies and managed to obtain good discounts on her purchase. As Sandra works in several diff... More from Sandra Virginia'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