Update on YolimaWith her previous Kiva loan, Yolima bought a cooler and ice trays in bulk so that she could continue increasing her production of frozen treats. Now she plans to use her new Kiva loan to buy a new freezer for selling ice cream in her business. She started out with a loan and now has become a complete success. Yolima would like to send the following message to Kiva lenders: "I am grateful for the help I have received. The best way I can demonstrate this is to submit my payments on time and make my business grow each day."
Previous Loan DetailsYolima is 29 years old and lives in the town of Puerto Colombia with her husband. She sells ice in bulk and "boli" (flavored water in small plastic bags). This business came about as she observed great demand by the inhabitants of this municipality. The area has tourist potential, being locate... More from Yolima'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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