Update on MarlonWith his previous Kiva loan, Marlon was able to purchase weaving yarn, steel accessories, rhinestones, gourds, and seeds in bulk. He was able to pay cash for these supplies. As a result, his business experienced an increased sales volume.
Now he is applying for a new Kiva loan so that he can buy these same materials. He needs to produce crafts for the Christmas and New Year seasons. Since his sales increase during this time, Marlon needs to have enough available inventory.
His message to the Kiva lenders is as follows: “Thank you for the financial support.” He asks that the support continue so that he can keep improving his profits and his liquidity. As a result, the standard of living for himself and his family will also improve.
Previous Loan DetailsMarlon is 34 years old. He works creating and selling artisanal crafts, a job that has allowed him to support the wellbeing of his family, made up of his partner and their three children between 5 and 11 years old. He began this business in the year 2000, but his experience in sales began in 1997.… More from Marlon'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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