Leticia Del Carmen
Update on Leticia Del CarmenLeticia from Malambo addresses the following message to Kiva lenders: "Thank you for helping me achieve my dream of making my business grow." She is thankful for how well it is faring and wishes to continue on this course. With her previous loan, she bought cloth, lace, zips, and other supplies with which to make clothes and jewellery. She was thus able to fulfil her customers' orders for school uniforms as well as to offer a greater variety of items for sale. With this new Kiva loan, she plans to buy more thread, lace, and buttons. Her investment will pay off because her shop is very well located, in the very centre of Malambo, which is the commercial area of the town. She has many customers, both educational institutions and individual customers.
Previous Loan DetailsLeticia lives in the center of Malambo, a municipality in the metropolitan area of the city of Barranquilla. It is located 5km from the city's airport, next to the towns of Soledad, Sabanagrande, and Santo Tomás. It has a unique social composition, due to the fact that its inhabitants are a mix of… More from Leticia Del Carmen'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