Update on Mary LuzMary is very happy with her Kiva loan because since she got her previous loan she managed to increase working capital investing it in merchandise that is most requested by her customers and selling it very quickly. She even bought a new display case that she stocked and that attracted many customers because of the way her merchandise was displayed.
She is now getting ready to apply for a new Kiva loan to buy clothes, footwear, women’s accessories and cleaning supplies that she’ll promote among her best chosen customers and with her experience and capacity for work, [FMSA believes] she will very quickly get ahead making her Kiva loan very successful.
Previous Loan DetailsMarly Luz O. is a very responsible person. This is because her father died when she was still a girl; she and her sisters saw how her mother responsibly faced the goal of teaching them to be good people. Ever since she was in high school she has practiced the habit of saving. She got together… More from Mary Luz'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