Update on Ana MatildeWith her previous loan from Kiva, Ana bought raw material in larger quantities and made her best designs in clothing, which sold promptly.
She did not purchase the overlock machine before because she needed to invest her money in various contracts that came consecutively to be able to rotate her stock rapidly. She is currently requesting a new Kiva loan to buy a sewing machine and overlock machine. With these new machines, she expects to increase the quality of her products and improve the production time and this is thanks to Kiva, this is why she sends the following message to her Kiva funders: "Thank God for people like you that are ready to help others, by remembering neighbor´s love. God bless you greatly and continue to support so special work. "
Previous Loan DetailsAna is 45 years old and lives in the 'Ciudad Bicentenario' macro-housing development project which is run by Fundación Mario Santo Domingo as part of their process of building sustainable communities in the city of Cartagena de Indias. There she has her dressmaking business called "Modisteria… More from Ana Matilde'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