Update on Humberto AlfonsoHumberto was very successful with his purchase of 35 gallons of different brands of lubricants, as he was able to increase his sales. Today his business benefits from good clientele, as a direct result of his previous Kiva loan, and he is therefore applying for a new loan at this time. He plans to invest the new loan in motorcycle parts and more lubricant, as it is a product with high rotation since it is usually purchased in high volumes so he can offer his clients better prices. His message to Kiva lenders is the following: "I am very grateful...may God bless you, thanks to all of you I have been able to improve my business and I hope that you will continue believing in me in and support me again."
Previous Loan DetailsHumberto is 46 years old and lives in Malambo, which is part of greater Barranquilla. He lives near the towns of Soledad, Sabanagrande and Saint Thomas, about five kilometres from the city airport. This location has a very special social makeup; its residents are a mix of people from all over the… More from Humberto Alfonso'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Jul 13, 2012
- Jul 27, 2012
- Currency Exchange Loss:
- Aug 26, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.