Update on JaimeJaime purchased materials for his production. He found good prices on imitation leather, zippers, and thread, and with these he made very attractive bags and briefcases at competitive prices. This has been what made an impact on his customers, and it happened thanks to his Kiva loan.
Currently he is applying for a second loan, with which he will once more purchase materials and an industrial sewing machine to improve his production times and give his products a better finish. His message to the Kiva lenders is the following: "Thank you to all of you for this great support. A thousand blessings and continue supporting the productiveness of Columbia".
Previous Loan DetailsJaime N. is 45 years old. He lives with his spouse and 14 year old daughter in the Carrizal neighborhood in the southern part of town. It is characterized by its cheerfulness, its activism and independent work, and the solidarity of most of its residents. In this dynamic and productive enviroment,… More from Jaime'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