Update on AntoniaAntonia’s very grateful to Kiva because it’s supporting her and her working capital is growing. She used her first loan to buy basic staple items in large amounts and for cash which led to her having her shelves always well stocked with snacks, foodstuffs and liquor. Today, she’s applying for a new Kiva loan she’ll use to make physical upgrades to the shop in order to expand the space for her inventory; she will also buy snacks, foodstuffs, canned goods, soft-drinks and beverages. Antonia has new expectations with her future loan because she’s growing all the time. Her message to Kiva lenders is the following: “Thank you…I’m grateful for your having supported me.”
Previous Loan DetailsAntonia, 72 years of age, is a married woman who had 7 children that are now ages 36 to 54. She lives in the city of Cartagena, where she has a store called “The Thrifty One”. Its name honors the low prices at which she offers her products, while still making a profit for herself. Her… More from Antonia'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