Update on Martha ElenaMartha bought schoolbags as well as sports footwear, and took advantage of the back-to-school season in order to make good sales.This was thanks to her previous Kiva loan.
Currently she is applying for a new loan, that she will use to buy perfumes and cosmetics, in order to fill orders that she has in commemoration of the "Day of Love and Friendship" (a Colombian holiday celebrated on the third Saturday of September).This way, she will once more take advantage of the time of year, with products appropriate for it.
To her lenders she says that the support they offer her is very important in helping her business progress. With her great effort, she will most certainly achieve it.
Previous Loan DetailsMartha G. is 48 years old and lives in the city of Cartagena with her husband and two children (ages 18 and 20). Twelve years ago, Martha and her husband started a business together after he lost his job. They both applied for unemployment benefits, and as a result, were able to establish the m... More from Martha Elena'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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