Update on JuliethJulieth used her previous loan to make uniforms, casual clothes and sleepwear which she sold to increase her working capital. She is very satisfied because this was thanks to her CrediKiva. Therefore she is about to take out her third CrediKiva loan to strengthen her other business which is cold meats. She will buy in bulk since her customer base has grown and she is constantly receiving more orders. Part of the new loan will be used to buy fabric to make uniforms for an educational organization. Her message to Kiva lenders is the following: "Thank you for the support you are giving to my business. I will continue to pay back the loan on time".
Previous Loan DetailsWith her previous Kiva loan, Julieth made uniforms and bought sheets, bedspreads and footwear, with which she increased her capital a little bit and expanded her customer base. Currently she is applying for another Kiva loan, which she plans to use to purchase cold meats, footwear, women's clothing… More from Julieth'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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