Update on MaritzaMaritza was very satisfied with her previous CrediKiva loan since she bought meat, soft-drinks, and cereal in greater quantities; and her inventory had a quick turnover because there was more variety which customers like. She is applying for a new loan to buy bakery products, meat and groceries in general, as she wants to increase her working capital. Her message to Kiva lenders is the following: "Thanks to you I was able to improve my business and increase sales. I hope you will continue supporting me so I can grow."
Previous Loan DetailsMaritza is 37 years old and has three children between the ages of 6 and 16. They live in the town of Malambo, which is 15 minutes away from Barranquilla. Maritza has a business where she sells basic household goods for cash and sometimes on credit. Her inventory includes snacks, provisions,… More from Maritza'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