Update on Marina EstherMarina, who is 56 years old, invested her Kiva loan in the purchase of supplies and clothes, footwear, salsas, and pickles, with which she made new profits. Currently she is applying for a Kiva loan in order to invest in the requests that her customers have made, and as she is always responsible, she wants to be timely with them. With her new Kiva loan she will buy towels, underclothes, bed linens, and footwear. The success of her loan lies in her increasing her work capital, the number of customers, and in the quick rotation of her merchandise. She is very satisfied with her investment and today sends the following message to the Kiva lenders: "Many thanks for the financial support to Colombian microenterprises and keep multiplying this excellent work in all the countries of the world."
Previous Loan DetailsFor ten years Marina, 55, sold chicha (beverage made from corn), bolis (frozen fruit treats), ice cream and fried fast food that she prepared at home in the Carrizal neighborhood where she lives with her spouse and 36-year-old daughter. Forty-five years ago, still living with her parents and… More from Marina Esther'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