Update on Jorge LuisWith his previous loan, Jorge bought materials and food supplies with which he expanded his product offering and his sales. He also repaired his fast food cars and invested in an umbrella to protect himself from the rain and inclement sun that accompany life in the beautiful and historic city of Cartagena de Indias. Currently, he is applying for a new loan, which he wants to use in a variety of ways. On the one hand he will invest again in primary materials and food supplies with which he will continue increasing his work capital; he will also repair his display window, offering in this way a better quality image of his business; and finally he will buy another washer, in order to add laundry services to his business.
In his expression of gratitude for this financial support, he asks that Kiva lenders continue supporting him. His business has a great deal of potential for growth, and it is this which will ultimately carry him little by little towards achieving his dream of prosperity, which is simply to have his own house in order to stabilize his family life.
Previous Loan DetailsJorge is 44 years old and lives in the city of Cartagena with his wife and children aged 10 to 18. On the terrace outside his house, he sells fried food and fast food. He started this business with a lot of dreams and is supported by his wife. They are in agreement as to their need to make… More from Jorge Luis'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