Update on José AntonioJose was very satisfied with his previous loan because increasing his stock resulted in increased his sales. He used his loan to buy clothing for men, women, and children. He currently wants to make the most of the last two months of the year and make his best sales yet. This is the season where his orders normally increase-and his income as well. This is exciting for Jose. He will use this new loan to buy clothing of all brands and for all tastes. He wants the families who visit his store to be able to get outfits for the end of year festivities. He only sells the best at his store. His goal for the future is to make improvements to his store. For this reason, he says to his lenders: Thank you for the support, because through these loans my household income has increased.
Previous Loan DetailsJosé is a married man who has three children between the ages of 10 and 13. After he got his high school diploma at 19 years old, he began working as a contractor and learned how to make plaster molds, a job which he had for 10 years. At 23 years old he got married and began working for companie... More from José Antonio'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
- 13 months (Additional Information)
- Repayment Schedule
- Oct 29, 2012
- Nov 9, 2012
- Currency Exchange Loss:
- Dec 9, 2012
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.