Update on MarlynMarlyn used her previous Kiva loan to buy an electric corn mill and some raw materials like wheat, cheese, cold cuts and disposables for table service. Her loan was of much benefit because she was able to buy a larger amount of raw materials getting better prices that way and she was also able to obtain a work tool that she otherwise would not have had capital available for.
She’s currently applying for a new Kiva loan that she’ll use to buy raw materials like cheese and disposable products to expand her offer and to have the capacity to take care of a larger number of new customers.
Marlyn sends the following message to Kiva lenders: “I am very grateful for the help received and I pray to God that He shower you with blessings.”
Previous Loan DetailsFrom Pradomar, near Las Payas in the municipality of Puerto Colombia, Marlyn sends her thanks to the lenders who are helping small business owners throughout the world. She is getting ready for her second credkiva which she will use to buy food ingredients such as flour, oil, sugar, margarine,… More from Marlyn'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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