Update on Miladys DayanaMiladys was able with her previous Kiva loan to buy raw material and supplies in order to make jeans and sweaters, in general knitted fabrics, and this is how she had enough capital to succeed in her production, and meet her customer’s requests. Currently she is asking for a new Kiva loan in order to buy fabrics for a new output of 100 jeans for men, 20 for children and 3000 pants. The investment will be successful because of the demand by the market for commercial clothing, miscellaneous items, and clothing stores. Her message to the Kiva lenders is the following: “Thanks to Kiva I have managed to fulfill my expansion goals, however this is scarcely the beginning and how good it is that you are helping me.”
Previous Loan DetailsMiladys is 21 years old and the owner of a business called “Creaciones J.M.” where she manages seven tabletop and industrial sewing machines. Her business is located in her parents’ home. Miladys makes all types of clothes, including casual and industrial. Her parents started this business sev... More from Miladys Dayana'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