Gildardo De Jesus
Update on Gildardo De JesusWith his previous Kiva loan, Gildardo increased his purchases of raw materials and a variety of supplies in numerous colors, such as leather, hardware and dyes. With this investment, he produced saddlery and leather goods that he sold, generating more income. He was very satisfied with this result, and now he is getting ready to apply for a new Kiva loan that he will use once again to buy raw materials on a cash basis so that he can develop new designs in leather and items such as wallets, purses and billfolds. With this Kiva loan, he hopes to see a good increase in his sales and gradually increase his profits over time. His message to the Kiva lenders is the following: "A very special thank you for the support I have received, with which my business has grown quite a lot."
Previous Loan DetailsWith his previous loan from Kiva, Gildardo purchased leather, rope and iron fittings to make saddles for horses and livestock implements which he then sold, reinvesting the profits in his slightly increased working capital. With this new loan, Gildardo plans to purchase supplies in bulk to reduce... More from Gildardo De Jesus'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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