Update on DagobertoDagoberto’s neighbors spend weekends playing dominoes and drinking beer in his place of business. He used his Kiva loan to buy soft-drinks and beer to increase sales and earn higher profits. He’s currently already thinking about the December festivities among his neighbors and wants to be ready for them which is why he’s applying for a new loan to pay cash for larger amounts of beer to have the best sales of the year among his neighbors who come with their families to enjoy Dagoberto’s establishment in a joyful, healthy way. His message to Kiva lenders is the following: “I am very grateful to Fundación Mario Santo Domingo and to Kiva.” He has increased sales very much and hopes to continue to be able to count on support from both these organizations to make progress and attain a better standard of living for his family.
Previous Loan DetailsDagoberto, 56, is married and makes a living selling softdrinks and beer, Friday through Sunday. He also works every day as a carpark attendant. He began his business in early 2011 when family, neighbors and friends used to get together on weekends across the street from his house to play domin... More from Dagoberto'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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