Update on Porfirio AntonioPorfirio used his prior Kiva loan to buy soft drinks and supplies to make his fast food, such as bread, meat, vegetables and sauces. He was particularly interested in obtaining supplies for the weekend festivities. The new Kiva loan he has applied for will be a cash fund to buy new supplies of meat and cold cuts, which he will use to increase his production of fried potato with sausage, hotdogs, skewered meats and hamburgers. This is because he is now located in a square which has been made available to vendors, who had previously been located in public spaces.
Porfirio is very happy and thankful to Kiva lenders, and hopes to continue receiving this financial support so that he can move forward professionally and with his family.
Previous Loan DetailsPorfirio is very happy because with his Kiva loan he was able to increase production of salchipapas (a traditional fast food consisting of sausages and french fries) and hamburgers. He has been encouraged and as he needs some funds to purchase ingredients and products to respond to client demand,... More from Porfirio Antonio'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