Update on MiryamMiryam used her previous Kiva loan to buy larger amounts of ingredients and raw materials that she used to produce larger volumes of baked goods like ‘deditos’ [ladyfingers], turnovers and meat, chicken and cheese pies to sell. She also bought an electric mill that has made her production more efficient. Her inventory is more varied than before and she has more customers which was precisely the success of this loan. She is very satisfied and is applying for a new Kiva loan because she’ll buy more Styrofoam packaging to sell her items frozen and many more raw materials and supplies to increase production and once again increase sales. Her message to Kiva lenders is: “With your support I’m reaching the dreams, goals and objectives drawn with help from the nuclear family. Thank you very much.”
Previous Loan DetailsMiryam lives in the town of Soledad with her husband and four children whose ages range from 11 to 21. She makes and sells “picadas” (combination plates containing various fried meats, sausages, offal, manioc and potatoes), a business that arose from the need to generate income and that started as… More from Miryam'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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