Update on ViteliaWith her previous loan Vitelia bought materials and made the most beautiful hammocks and backpacks and sold them very quickly. She is now applying for a new loan with which she plans to buy parcels of fine yarn for upholstery and to improve her shop a little bit. This is because she has many orders and she wants to fill them to gain a bit more money and to be able to make her business premises more attractive to present and future clients. She says to the Kiva lenders that she is very grateful for the loans for allowing her to work more comfortably and to be able to earn more income for her household.
Previous Loan DetailsVitelia M. Meléndez is 54 years old and has two children, ages 28 and 30. Through her own efforts, she was able to study and gradually become successful in whatever she pursued. This woman lives in the town of San Jacinto in the Department of Bolivar, where she uses her loom to produce beautifu... More from Vitelia'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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