Update on Marylin EstherMarylin is extremely grateful for the financial assistance she received from Kiva in her previous loan, as using that loan, she increased her purchase volumes of footwear, cosmetics and electrical household appliances which she sold and thereby increased her portfolio of accounts receivables.
She is currently preparing to receive a new Kiva loan with which she will meet orders for women's, men's and children's sandals and silver articles. In this way, she plans to increase her working capital even more and earn more than before. She sends the following message to her financial backers: "I am so thankful for the financial support that I am receiving from Kiva and FMSD, I hope to carry on progressing with the continuing support."
Previous Loan DetailsMarylin Esther O. is 46 years old and lives in Ciudadela 20 de Julio. She works selling clothes, shoes, perfume, jewelry and cosmetics. She has 2 sons, ages 10 and 16 and dreams of seeing them productive and prosperous one day. That is why she strives to get them a quality education, which is he... More from Marylin Esther'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