Update on Eva ElenaEva invested her previous loan in the purchase of accessories, clothing inputs and stationery, for her variety store which is very well-known in the neighborhood by people who want to buy stationery, apparel inputs, feminine accessories and more. She was able to expand her business and offer more products to her clients, and this resulted in more income for herself and her family of two young children, whom she dreams of converting into successful people.
For this reason, she wants to continue increasing her business with the help of the loans. Today she is applying for a new loan for the purchase of stationery, candy, cosmetics, and clothing accessories since it is the second season of the year - in which sales usually increase - and she is going to take advantage of this occasion. She has many years of experience in the business and she also has many loyal clients.
Eva wants to say the following to her Kiva donors: "Thank you or supporting me with the loan which they gave to me and was a great help for my business, I hope you continue supporting me."
Previous Loan DetailsEva is 55 years old and lives with her husband and two children (ages 13 and 16) in Malambo, a metropolitan section of the city of Barranquilla that is five kilometers away from the local airport. This area is also adjacent to the towns of Soledad, Sabanagrande, and Santo Tomás. Malambo is known… More from Eva 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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