Update on SilviaSilvia invested her first Kiva loan in the purchase of a variety of merchandise, such as sheets, footwear, bags and cosmetic products, among others, to re-sell on credit, and in the purchase of supplies to make the puddings and breads that she sells. This time, Silvia is turning to Kiva for her second funding through the Fundación Mario Santo Domingo to purchase a baker’s oven because her products have been very well received and her customers keep asking for more. That is why she can no longer continue making them in an amateurish way and needs to use modern technology and improve quality.
Silva sends this message to her lenders: “I thank you with all my heart for the loan you have given me and for the easy payments. The loan helped me improve my profits.”
Previous Loan DetailsSilvia lives in Corregimiento de Campeche in the Atlántico Department. From a very young age she’s been preparing delicious meals and cakes, an occupation she learned from her mother who worked as a domestic employee. When her mother died, Silvia started doing the same kind of work because she ... More from Silvia'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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