Update on MireyaMireya used her previous loan with Kiva to buy items such as perfumes, clothing, jewelry, beauty products, and also to buy natural medicines. She sold all these items and had a rapid turnover, slightly increasing her working capital.
With this new loan that she is seeking, Mireya will buy clothing and beauty products in greater volume. She will also buy a cell phone plan so that she can continue serving her customers well. She wants to have for sale everything they need and thus increasing the amount of money she earns. Her message to Kiva donors is as follows: “Blessings on the whole of the Kiva group, and may you continue helping our brothers and sisters in Colombia so they can reach their dreams.”
Previous Loan DetailsMireya, 42, is married and the mother of 3 children who range in age from 14 to 20. She has lived in the house of her in in-laws for 25 years. The house is in one of the liveliest and friendliest neighborhoods of the city where traditional street music frames the everyday life of the inhabitants.… More from Mireya'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