Update on Aracely MariaWith her Kiva loan, Aracely bought household ítems which she sold on credit for daily repayments. It went very well and so she is applying for another Kiva loan with which she will buy a larger amount of household items, with the aim of continuing to secure discounts, obtaining a new clientele and increasing her capital. Her message to the Kiva financers is as follows: "a special thanks, since the loan I used has served me very well to expand our portfolio and increase our family's income."
Previous Loan DetailsAracely has a business selling household products such as mattresses, fans, blenders, pots, plastic products and kitchen items. The idea for this business was her husband's and he is the one who makes sales door to door and collects payment for their goods while Aracely makes sales in their busi... More from Aracely Maria'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