Update on Orlando RafaelWith his previous credikiva loan, Orlando bought a lot of tropical fruit such as watermelons as well as fresh vegetables, that he sold, increasing his working capital slightly. Now he is applying for a new credikiva loan, because his sellers have requested more products, as they have an established clientele, and Orlando's working capital is insufficient to meet the growth in demand.
This is the reason why his credikiva loan will be successful, because he will respond to demand by buying fruits and vegetables from the harvest, at a good price and above all very fresh. Orlando tells the lenders that his credikiva loans have been very useful to him. He says thank you, and may they continue helping him.
Previous Loan DetailsOrlando is a 39 year-old father of two children, ages 8 and 10 years old. He lives in the municipality of San Juan Nepomuceno and has also sold fruits and vegetables there for the last 12 years. He has taken advantage of the fact that he worked in the business in Barranquilla for three years, where… More from Orlando Rafael'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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