Update on Claudia MilenaWith her previous Kiva loan Claudia bought an industrial sewing machine. She also put a door on the place where her business functions. These things improved her establishment’s appearance and increased her productivity and the quality of the clothes.
She is now applying for a new Kiva loan. She wants to completely improve the infrastructure of her workshop by purchasing three more machines and raw materials. Her customers are boutiques who require overall quality in the productive process and competitive prices.
Her message to the Kiva lenders is the following: “Thank you, Fundación Mario Santo Domingo and Kiva. May God bless you for the financial support, and I hope that you continue supporting me.”
Previous Loan DetailsClaudia Milena O. P. is married and has a six year old son. She lives in the neighborhood of Palermo Norte in the city of Bogotá, the capital of Columbia. Claudia Milena designs and makes women's clothing of unebeatable quality. This is the reason she is asking for a loan of $2,300,000. She… More from Claudia Milena'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