Yaneth Del Socorro
Update on Yaneth Del SocorroWith her last Kiva loan Yaneth bought supplies to make food for her restaurant, and obtained discounts by paying cash and buying in bulk. Her loan was also enough for her to buy chairs, tables and items that her customers had asked her for such as children's clothing. She is starting a new business, with which she plans to take advantage of the customer base of her restaurant, which is steady, and provide them with items that they require for their families. For this reason she is requesting a new Kiva loan, which she will invest in clothing and supply her clothing stall, in order to satisfy her customers and earn more income. She sends the following message of gratitude to Kiva lenders: "I thank you very much, and hope you will continue supporting me and other microbusiness owners".
Previous Loan DetailsYaneth is 50 years old and she has a business through which she sells breakfast foods. She lives in the community of Los Calamares. She is married and she has 4 children aged between 11 and 28. She dreams of having a prosperous future with her family. Ten years ago she cleaned what was a garbage ... More from Yaneth 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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