Update on AlbaAlba is applying for a new Kiva loan because she needs to buy plastic tanks to sell and increase her working capital as she has been doing. With her previous Kiva loan, she was able to buy plastic drums. She sold them in the cities of Montería, Sincelejo, and Magangúe, also located on the Caribbean coast of Colombia. She did very well with them because she quickly turned over her capital and achieved a slight increase in her sales. In her message to the lenders she says the following: "Very grateful to these people who have helped us to move forward in our businesses, and may they continue with this beautiful work."
Previous Loan DetailsAlba is a 52 year old woman who lives in one of the most cheerful and traditional neighborhoods in the city of Barranquilla. She lives with her spouse and 27 year old son. She started her own business buying merchandise in Maicao, departament of La Guajira and border area of Colombia and Venezuel... More from Alba'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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