Update on RosairaRosaira used her previous Kiva loan to buy a lot of different goods and she was able to fill her customers' orders. She sold ladies' clothing, men's clothing, beauty products and merchandise which was available in her catalogs at special discounts. She managed to improve her stock turnover and increase her accounts receivable. She currently needs to invest even further in her business, adding new working capital so that she can buy personal care products, women's accessories, colognes and toiletries. This will help her to achieve a quick sales turnover. Her message to Kiva lenders is as follows: I would like to thank you for the support I have received from Kiva. Thanks to you, I have been able to increase my capital and make progress in my business".
Previous Loan DetailsRosaira lives in the El Santuario neighborhood, south of the city of Barranquilla, with her husband and her 12 year old son. She has a business in her own house, which consists of selling on credit a variety of merchandise, such as cosmetics, perfumes, and accessories, through catalogs. She started… More from Rosaira'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