Update on José LuisJose invested his previous loan in exercise bicycles and machinery with which he strengthened his offer. Since he received the loan, his business has grown and he feels very satisfied. His main news is that his older daughters are studying a university course and this is his greatest happiness. Currently, he is applying for a new loan with which he will buy elliptical machines to respond to demand from young people who need to do standing aerobic exercise and need to toughen their muscles. His goal in the future is to manage to acquire his own home and to buy a shop to give formality and positioning to his business. He says to his Kiva lenders: "I am very thankful" and he asks them to "keep supporting us small business people."
Previous Loan DetailsJosé is a 38 year old man living with his spouse and four children, whose ages range from 7 to 17 years, in Costa Hermosa, a neighborhood located in the municipality of Soledad which is 15 minutes from the city of Barranquilla. He is very well known in this community because he offers an exe... More from José Luis'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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