Update on Diana MargaritaWith her previous Kiva loan, Diana purchased soft drinks and beer in greater quantities and sold them opportunely, expanding her business because she improved her stock. Currently, she is requesting a new loan with which she will purchase construction materials to make improvements to her business and to buy greater quantities of beer and soft drinks with the rest of the money. Her potential sales are increased because of her strategic location next to a soccer field, where many customers pass through daily, and especially on the weekends when many play sports. Her message to Kiva lenders is the following: "Thank you for the support. I am very grateful to work hard and get ahead."
Previous Loan Details32-year-old Diana is a saleswoman. Her business is selling soft drinks and merchandise from her own home which is located in a neighborhood in the south of the city. In her business, she sells cold drinks and small electrical appliances which people order from her. She buys for cash and sells on… More from Diana Margarita'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