Update on AnaAna is a very enterprising woman. She and her family earn a living from different businesses. On the one hand, she manufactures wooden furniture; on the other, she sells merchandise, such as women's apparel, fashion jewelry, and accessories. She has had 4 years of experience, during which time her entrepreneurial spirit and great commercial vision developed. Aside from being a retired school teacher, she has always like to be active in her businesses so that she can continue to offer her children support. She has two sellers who distribute her products to customers throughout the city of Barranquilla, and she accepts cash and credit payments. Ana is now turning to Fundación Mario Santo Domingo for a loan, and this will be her second Kiva loan. With her previous loan, she has been able to boost her business, and now she needs to help it grow, which is why she will invest in purchasing clothing, fashion jewelry, and home furnishings. She will use the rest of the money to fix up an area in her house where she will set up a workshop in the future, which is one of her biggest dreams and the reason why she works so hard.
Previous Loan DetailsAna is 61 years old and is separated from her husband. She raised four children who today are between the ages of 22 and 33. She owns a workshop that produces furniture that she sells on credit to three vendors throughout the city, and they make payments to her every week. At her business she… More from Ana'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