Update on Luis EnriqueWith his previous loan, Luis was able to buy more fruits such as apples, pears, grapefruit, strawberries, and grapes to sell to his clients in Barranquilla’s city center. He also used the loan to buy a cart to sell fruit from house to house in various neighborhoods in the city.
Now, Luis Enrique would like another loan to increase the number of fruits he can buy in order to satisfy his customer demand. His message to the Kiva lenders is the following: “Thank you for trusting in me and I hope that you continue to support me in expanding my business and in creating jobs in other outlets”.
Previous Loan DetailsLuis, 42, lives with his wife and three children, ages five to 16. He has a fruit business that he set up 25 years ago when he lived in his home town of Zambrano (in the department of Bolívar). He decided to seek out better lifestyle opportunities in the city of Barranquill where he began selli... More from Luis Enrique'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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Sep 13, 2012
- Oct 7, 2012
- Currency Exchange Loss:
- Apr 18, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.