Update on IngridWith her previous Kiva loan, Ingrid bought rocking chairs, hammocks, bags, backpacks and other items that she sold in season. With this new Kiva loan she is applying for she will buy thread, yarn, wool, buttons, buckles, sliders, and needles for the manufacture of knitted products because she has orders to fulfill and also needs inventory on hand.
She sends the following message to the lenders: “Having your support is very important because with it I could meet the needs of the customers and also I have improved the life conditions of my children in several ways.”
Previous Loan DetailsIngrid is married and lives with her husband and three children, aged between 10 and 18, in the municipality of Soledad. This is also where she works selling handicrafts such as backpacks, earrings, different kinds of bracelets, mesh sandals, hammocks and women's accessories. Ingrid is original... More from Ingrid'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