Update on BettyBetty, with her previous Kiva loan, bought merchandise that she sold in the city in order to increase her regular income. Currently she is preparing to receive a new loan from Kiva, and she is very excited about the Christmas season and the New Year that approach. At that time of her the sales of her products increase and she earns much more. With her Kiva credit she will buy cheese which is her new product, as well as ingredients in order to make Christmas cakes, by which she hopes to entice her customers. She will also buy clothing, shoes, etc. with the aim of filling the requests from her distinguished customers and making her Kiva credit a success once again.
Previous Loan DetailsBetty Z. lives in the city of Cartagena, Department of Bolívar, with her husband and two children (ages 12 and 15). In 2007 she returned to Colombia with no money after living in Venezuela. The only asset that she had was the house she acquired as a result of working for such a long time. At t... More from Betty'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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