Update on Martha CeciliaWith her previous loan from Kiva, Martha bought various beauty products to sell and a washing machine to rent out. The loan also helped her buy a showcase and a tent so that her husband can work under better conditions in his car shop.
With this loan, she was able to increase her work capital, her customers and create the appropriate environment for her husband to carry out his automotive work.
Currently, she is applying for another loan from Kiva. With this she will buy another washing machine, welding equipment, beauty products and other merchandise her customers ordered.
Her message to the lenders at Kiva is that she is very thankful. She is also satisfied with the service of the loan and she is asking that you continue supporting her to help her offer a quality education to her children.
Previous Loan DetailsMartha is a 37 year old woman who lives with her husband and their two children, ages 12 and 19. The children go to school, and they are the driving force for Martha’s daily efforts. She rents washers, and she sells varied merchandise via the credit system and installments that her customers have… More from Martha Cecilia'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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