Update on LibardoLibardo has reinvested since he received his loan. He bought a freezer and has improved the appearance of the facade of his business. For this reason he distributes more meat in more stores.
Currently he is applying for another Kiva loan, with which he will buy more wholesale meat. He plans to lower the price of his product and be more competitive.
His goal is to continue expanding his clientele and reach more places, generate more income, and manage to get a display freezer. He anticipates that his children's well-being will increase with all this investment and with his work. His message to the Kiva lenders is the following: "Thank you very, very much for all the support you have given me to get ahead in my business. I hope you continue helping me to prosper, and may God bless you."
"Muchisimas gracias por todo el apoyo que me han brindado para salir adelante en mi negocio y espero que me sigan apoyando a prosperar y que Dios los bendiga. "
Previous Loan DetailsLibardo C. P. knows a lot about meat. Since he was very young, 35 years ago, he began selling beef, bones, viscera and other products with his father in the public market of Arjona city. Then for five years, he worked with his sister. Last year he used his savings to open his own business, a… More from Libardo'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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