Fanny Del Socorro
Update on Fanny Del SocorroFanny invested her prior credikiva loan in materials that she used to make sandals in different sizes which she sold to many more clients than usual. She invested in thin and thick soles, glues, toe covers, and platforms. Her satisfaction is greater every time as she sees what is happening with her business.
That is why today she has come back to Fundacion Mario Santo Domingo to apply for a new credikiva loan which she will use to buy 36 pairs of foot molds to improve the quality of the design and finishes of her footwear. In this way she will improve production time and will have a diverse array of raw materials and supplies for sale. Her message to Kiva lenders is that she is very grateful to the organization and, thanks to God, she has improved her income which she used to fix her home and asks that Kiva continue to support many more people.
Previous Loan DetailsFanny used her last Kiva loan to buy soles, glue, etc. so that she could meet the demand from her customers for the sandals that she makes. Now she wants to improve her workshop. She is applying to Kiva for a second loan that she will use to buy construction materials for the workshop plus the ... More from Fanny 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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