Update on Nancy ElenaNancy is 53 years old. She lives in Ciudad Bicentenario, a housing project in the city of Cartagena. It is supported by the Fundación Mario Santo Domingo. It's purpose is to promote the construction of sustainable communities. Nancy is married and has 4 children, aged 21 to 27. She dreams of seeing them achieve their goals of success in their lives. Three years ago, Nancy opened her micro business sewing clothes.Thanks to some classes she took at the productive centers sponsored by the Fundación Santo Domingo. With her learning she started to sew for people to order with a machine that she bought. Now she makes multiuse clothes and also blouses and pants. She sells them in other nearby towns and to customers that lives in her community. She charges upfront and also sell son credit. She buys her materials upfront in specialized centers for sewing located in the center of town. Nancy has received 4 loans from the Fundación Mario Santo Domingo. With them she has been able to acquire machinery and work equipment. Her goal is to keep growing and seperate her business from her family space. Right now, she is applying for a new Kiva loan to buy linen, flannel, dacron and chiffon, thread, notions, and buttons. With them she will design new products to please her good customers. Investing in her business is win-win.
Previous Loan DetailsNancy is negotiating her fourth loan with Fundación Mario Santo Domingo and plans on getting her second Kiva loan. She is satisfied with her business’ advances because she’s managed to increase her working capital and with it the purchase of raw materials to make dresses which, in turn, has led... More from Nancy Elena'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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