Update on CleotildeCleotilde invested her Kiva loan in two parts. On the one hand she bought raw materials she used to make tote bags and on the other hand invested in her crops. Her goal is to continue adding more technology to her infrastructure and to have industrial machinery and to install a tank to store and supply her with water.
Her message to Kiva lenders is one of gratitude and she asks that as the years go by that the loan amounts be increased in order to increase the size of financed businesses when they are repaid well. Currently, Cleotilde is applying for a new Kiva loan to buy raw materials and supplies to manufacture new backpacks she has on order and that undoubtedly will be very well designed to impact her clientele.
Previous Loan DetailsCleotilde is 41, lives with her husband, and has 3 children ages 12 to 23. They live in the San Jacinto municipality in Bolívar department, an area where fabric is woven on vertical looms, from which hammocks, knapsacks and sandals are made. This skill is handed down from generation to generation,… More from Cleotilde'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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