Update on DellysWith her previous Kiva loan, Dellys bought fabric, thread, buttons, shirts, sweaters, sandals, and footwear in general. Her Kiva loan benefitted her by improving her income and especially her housing conditions, as she earned a bit more money with that investment.
Currently she is applying for a new loan, and will use it to buy raw materials such as trim, interfacings, buttons, thread, and a variety of merchandise with which she will serve the needs of her loyal clientele.
In this latest sales season of the year, she hopes to increase her sales even more by making elegant articles of clothing, so that families will look beautiful in the Christmas and New Year's festivities, wearing the well-made dresses that Dellys makes.
Previous Loan DetailsDelly M., 53, has had the challenge of working persistently in order to offer a better future for her 5 children, who range in age from 14 to 30. 20 years ago, starting with her old machine, she moved into the apparel business with women's and children's lines. At first she was doing this on… More from Dellys'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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- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Oct 26, 2012
- Oct 30, 2012
- Currency Exchange Loss:
- Apr 16, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.