Update on AnaWith her previous credikiva loan, Ana purchased at wholesale and for cash, natural products, clothing and perfumes, that she promptly sold and likewise achieved a rapid turnover of her working capital.
She is very enthusiastic and ready to access a new credikiva loan, with which she will buy footwear, colognes, women's dresses and natural products on a larger scale. This is because she needs to have a great deal more inventory, because she will acquire a store on a rental basis.
Her credikiva will be successful because she knows the market; she will be located very close to where her clientele is, and this will allow a greater of influx of customers for her business.
Her message for Kiva lenders is the following: "I am very grateful for the support provided to my small business, and I hope to continue progressing with these low-interest loans that have fewer requirements."
Previous Loan DetailsAna sells a little bit of everything. In her business, you will find footwear, clothes, perfumes and even natural medicines. You will also find advice about how to take them as she is very well trained in this area. Ana lives in Ciudadela 20 de Julio neighborhood with her husband, who is also ... More from Ana'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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