Update on Juan CarlosWith his previous Kiva loan, Juan Carlos bought a variety of fish and achieved a big sale. He has advanced in his business and now has a distributor of his products and he also sells directly the delicious and fresh bream, and exquisite bocachico, open and chopped.
His demand has increased and he needs to invest more each time on orders. This is precisely the reason he is requesting Kiva loan, he wants to buy bream, parrotfish, red fish, which are his biggest orders. His working capital has become insufficient to increase the volume of his sales and achieve more income.
His message to Kiva lenders is: "My thanks for supporting me and giving me the opportunity to have financial experience.
Previous Loan DetailsJuan Carlos is 32 years old. He lives in the southwest area of his town with his parents and siblings. From there he runs his business selling fish and avocados. He has been in this business for the last two years, although his enterprising experience dates back 10 years. When he was very young, he… More from Juan Carlos'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