Update on JesusJesus is very thankful to Kiva and the Fundacion Mario Santo Domingo, and says that he hopes they will continue to support him so that he can continue to progress in his business and his family life. With his previous CrediKiva he purchased clothes and shoes at wholesale prices, getting special discounts; today he is preparing to receive new financing, taking advantage of the fact that the second season of the year is coming up and with that an increase in sales. Jesus needs to have a lot of inventory for this season, and for this reason he will buy clothes and shoes, projecting that his utility will increase as well as his business.
Previous Loan DetailsJesús is from San Estanislao, in Bolívar department. He has lived in the city of Barranquilla for 42 years and is 47 years old. Jesús is a small businessman and, together with his wife, he sells very well-known brands of clothes and footwear. He fills orders that his customers make with him an... More from Jesus'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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