Update on LuzmilaLuzmila is very happy, because as a result of her previous Kiva Loan she bought drinks, sweets, cleaning products and food items with which she was able to stock her store and generate a larger volume of sales. She has decided to continue growing her store and as a result is soliciting a new loan with which she will buy greater quantities of food, drinks, and canned goods. Her investment will be successful because she will buy these goods little by little, buying products that are sold frequently, in order to maintain her business well stocked so her clients can always find what they are looking for.
In her message to Kiva lenders, she sends her gratitude for the support provided, as they have enabled her to form her business, which every day exhibits a greater variety of products. She hopes that her lenders will continue supporting her.
Previous Loan DetailsLuzmila is 35 years old. She lives in downtown Malambo, a town 10 minutes from the city of Barranquilla. She lives with her husband and two children ages 11 and 7. Luzmilla started her store 5 years ago selling a few things such as candy, Popsicles, and sodas. Then, little by little, she… More from Luzmila'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