Update on Grece LorenaWith the previous loan, Grece bought many items to stock her general store, including school supplies, underwear, outerwear, baby clothes, women's and men's clothing, cologne, beauty creams, and feminine accessories, with which she has done very well.
Today, she is applying for a new loan to achieve her goal of making improvements to her home, expanding the space and thereby giving her family a more comfortable environment to live in. She is thankful for the help she has received and for the noble work of lending support to hardworking people of humble means around the world.
Previous Loan DetailsWith her previous Kiva loan, Grece bought baby clothes, shoes for school and toys that she sold quickly and made money on. It went really well for her and, consequently, for her family. That’s why she is now requesting a new loan so she can prepare for the new school season. Mothers have already… More from Grece Lorena'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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