Update on Sol MarinaSol used her previous Kiva loan to buy natural medicines, clothes, cosmetics, shoes, and a variety of ítems for cash and in greater volumen. She took advantage of special dates like Secretary’s Day and Mother’s day. Sales went very well for her. She got better income as she increased her sales.
She is now applying for a new Kiva loan. She is doing so in the same season as the previous loan. She will now fill her customers’ orders, and she will adjust her purchases to requested items like clothes, cosmetics, shoes, and a variety of items.
With these purchases she will once again increase her working capital, and her business will grow a little more every day. This is exactly what guarantees the success of her investment.
Her message to the Kiva lenders is the following: “Many thanks to Kiva and the Fundación Mario Santo Domino. I hope you continue supporting me in order for me progress personally, professionally, and with my family."
Previous Loan DetailsSol is a 54 year old woman who lives in the citadel of "20 de Julio" in the city's south end. She is married with a merchant and she has 3 children, aged 24 to 27. They are all employed by private companies. This community is charming with much work and solidarity among its inhabitants. Sol is a ... More from Sol Marina'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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