Update on Sugey MarinaSugey's previous microloan was used to buy footwear, cosmetics, silver items, and clothing, all of which were items previously ordered by her customers in her business of sales of catalog goods. With this loan, she benefited greatly by increasing her liquidity. She increased her sales and the profits of her business.
Her investment of the microloan that she is currently applying for will be in the good that she has continued to sell, since she has a lot of knowledge of these goods and where to find the best prices, with which she can better attract customers. She will buy clothes, shoes, accessories, cosmetics, and silver jewelry to deck out her customers so that they can have a Merry Christmas and Happy New Year's.
Previous Loan DetailsSugey Marian B. is 34 years old and is a woman who works tirelessly in her business. She sells clothing, footwear, cosmetics and a variety of other goods and with this business she has managed to increase family income and support her two daughters, who are 13 and 15 years old, advance in their... More from Sugey Marina'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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