Update on NellyNelly used her previous Kiva loan to buy much merchandise that she sold. She recovered her investment and earned money. She’s very satisfied with and excited about the new Kiva loan that she’s applying for that she’ll use to once again buy merchandise adjusted to the season. Because the Day of Love and Friendship is approaching she will buy women’s accessories, roses, pens, items for the home, clothes, shoes and perfume in addition to her fabulous, cold beverages and soft-drinks. Her investment will be successful in that she’s investing in a season in which business increases and this is one of the year’s best seasons for commerce. Her message to Kiva lenders is the following: “Congratulations. Continue supporting us because we need people like you.”
Previous Loan DetailsNelly is a 60-year-old woman who has six children between the ages of 32 and 43. She has managed a business for eight years in order to support the welfare of her household. At the moment Nelly is the sole breadwinner because her husband, who is a bricklayer by traD., is on furlough because his… More from Nelly'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