Update on Manuel AgustinManuel used his previous Kiva loan to purchase many things, including a heated display case and a bicycle-delivery vehicle to distribute primary materials and supplies in larger volume. He received discounts, and the items sold very well.
At present, Manuel is applying for a new Kiva loan to purchase various implements, including a blender, a large kettle, and various merchandise, to respond to customer orders for Mothers Day.
Manuel's message to Kiva lenders is the following: "Many thanks for the loan; it was of great utility in advancing my business. I hope you will continue helping so that my business can continue to grow."
Previous Loan DetailsManuel lives with his spouse and their four children, ranging in age from 7 to 14. They live in Malambo, a municipality in the metropolitan area of Barranquilla. He has a business there offering washing machines for rent. He also sells fried food daily. His experience dates back to when he… More from Manuel Agustin'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