Update on AidaAida used her Kiva loan to buy perfumery, cosmetics and personal use items that she satisfied customer demand with and also earned a bit more money because the prices came with very good discounts. Now she’s got something new in that she’s manufacturing shoes. She conducted a pre-sale and needs to respond to her new clientele. She’s applying for a Kiva loan to buy raw materials and supplies like toecaps, soles, glue, tacks, etc. This new income alternative gives an application of her offer to customers and she will extend towards potential customers with these products. Her message to Kiva lenders is the following: “Thank you for continuing to trust in me, for supporting micro entrepreneurs and their families which allows them to grow.”
Previous Loan DetailsAida V. P., 39, lives in the La Playa development, very near the ocean. In that ambience of sea breezes and the ocean she undertakes her work selling catalogue merchandise and other items not in catalogues that her customers order from her like perfumes, school supplies, shoes, clothing for wome... More from Aida'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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