Yaciris Del Socorro
Update on Yaciris Del SocorroWith her previous Kiva loan, Yaciris purchased, sports shoes, school shoes, sandals, and flip flops wholesale on a cash basis for men, women, and children. At the present time she is applying for a new Kiva loan because there are new styles in fashion that she must display because her customers like everything that signifies change and modernity. She will buy women's, men's and children's footwear because it's close to the second half of the year, the season when there is an increase in sales of modern styles. This significantly increases overall sales which positively impacts annual profits. Her message to her Kiva lenders is the following: "Thank you very much for supporting me. May God bless you, always, that you continue to support me."
Previous Loan DetailsYaciris, 24, lives in the "20 de Julio" neighborhood, which is an area that contains both formal and informal activities, commercial zones, buildings, residential complexes, houses, and supermarkets. This is an area known throughout Colombia, because it is very close to one of the most important... More from Yaciris Del Socorro'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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