Update on Angela MariaWith her last "credikiva," Angela stocked her business, buying soft drinks and ingredients to increase the number of meals and sell a little more. She performed maintenance on her tools and work equipment and now she operates better and is more productive. With this new loan, she will increase the volume of her sales. She is currently preparing to receive a new "credikiva." She is going to finish equipping her production space and stock up with food and snacks, which she will buy in a greater volume. The success of this investment will mean that she will offer new products for breakfast and new menu items for the lunch hour, to satisfy her customers more each day. She sends her thanks to Kiva because, she says, "I was offered the opportunity to expand my business with the money they loaned me."
Previous Loan DetailsÁngela is 54 years old. She is the owner of a business selling meals and soft drinks. Her business is located in a space in the living room and terrace area of her home, which is in Montes neighborhood, in the city of Barranquilla. She lives there together with her husband and two children aged… More from Angela Maria'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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