Update on ElizabethWith her last Kiva loan, Elizabeth bought school and office supplies like notebooks, note cards, and erasers, and personal hygiene products, along with a freezer. With the loan, she was able to increase her customer base and sell more office supply products and a lot of soft drinks and refreshments as well.
Currently, she is applying for a loan for personal hygiene products, like tooth paste, soaps, sanitizers, and a variety of other merchandise like accessories, footwear, etc. The goal is to increase sales in the last quarter of the year, the season when sales are usually up. She sends a message to her Kiva lenders: "Thank you so much for financing my business. As with the last loan, I hope to live up to your trust."
Previous Loan DetailsElizabeth A. Arévalo used her first Kiva loan to buy stationery products such as card, exercise books and pencils, and beauty products such as powders and cosmetics. She will use part of the new Kiva loan that she is currently applying for to buy a 500-bottle chiller cabinet in order to make mor... More from Elizabeth'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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