Update on Orlando EnriqueThanks to his first Kiva loan, Orlando purchased four washing machines. Now he is offering more timely and effective service, which makes him very happy. At the moment, he is applying for a new loan to buy one more washing machine. Demand has increased and sometimes his customers leave his business because they cannot access service when all of his machines are being used. The reason why is Kiva loan was successful is because he used it to invest in machinery, thus allowing him to satisfy the unmet demand in the marketplace.
Orlando is well-known and plans to move forward with each opportunity. His message to the Kiva lenders is as follows: "Thank you for the previous loan. I hope that you will continue to support my business so that it become more profitable in order for me to continue growing and moving ahead with my family."
Previous Loan DetailsOrlando is a 43 year-old, married man who has two children aged 10 and 16. He and his wife do not tire in working to provide for their children's well-being. Orlando lives in the very center of Malambo, a town which is located 15 minutes from the city of Barranquilla. Malambo is a place where… More from Orlando Enrique'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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