Update on CarmenCarmen used her Kiva loan to buy beef, pork, cheese and raw materials like fabric, thread, lace and sewing accessories. She’s very happy because she turned over her capital a bit; she satisfied her customers thanks to her Kiva loan. Because of this, she’s sending the following message to her lenders: “I am very grateful and feel very happy because the loan was very useful for me to increase my business.”
Today, Carmen is applying for a new Kiva loan to buy fabric and supplies to make denim skirts and purses that she’ll manufacture with new designs in order to be on the cutting edge of fashion which is what her customers want to have to feel happy and distinguished.
Previous Loan DetailsCarmen is from Remolino Magdalena. She was displaced to Atlántico department and settled there with her two young daughters who are now 23 and 25 years old. Through her effort and work, she has managed to get her daughters ahead in their studies. One of her daughters is now a professional and… More from Carmen'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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