Update on ElianaUpon receiving her Kiva loan, Eliana changed her business 100% because she bought chemical, natural and veterinary products to increase her sales. She’s currently applying for a new Kiva loan to buy bee propolis, sarsaparilla, honey, ‘escoba’ [used to ease menstrual cramps], laxative, relaxation oils, soap, waxes and essences. Her dream is to have a well-stocked business and to expand it to increase productivity. She wants to say the following to Kiva lenders: “I want to thank you for the opportunity you’ve given me to be able to continue forward with my business.”
Previous Loan DetailsEliana opened a store ten months ago where she sells natural and chemical veterinary products. The products she sells are widely sought-after in the neighborhood where she lives and in surrounding areas. Her store’s location is very strong since it’s on the main road where ... More from Eliana'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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