Update on Yarnelis RosaYarnelis bought hammocks, hats, sandals and bags, which sold very well. She earned profits thanks to her Kiva loan. She's currently requesting a new loan, which she'll use to purchase hammocks and hats that are on sale. Her customers will be very satisfied with them because of the good prices she has secured specially for the upcoming season, which brings great opportunities to earn a little more money. Her message to Kiva lenders is to keep up their work, because it benefits a lot of people like her.
Previous Loan DetailsYarnelis is 43 years old. She lives in San Jacinto, land of vertical weaving, hammocks and other beautiful artisanal crafts made by hand mainly by the women of this region. That is why it isn't unusual that Yarnelis follows this tradition and applies it to her business, with which she generates i... More from Yarnelis Rosa'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
- 23 months (Additional Information)
- Repayment Schedule
- Oct 29, 2012
- Oct 30, 2012
- Currency Exchange Loss:
- Feb 21, 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.