Update on IngridWith her previous loan, Ingrid bought cold cuts and cheese. She stocked up and therefore increased her sales. Ever since she obtained her loan, she has been able to bring home increased earnings and thus she has improved her well-being. She's currently applying for her second loan which she'll use to purchase sweets, cold cuts and cheese. She plans to make an impact on her customers during Christmas season, since these types of food are the ones that families most often partake of on the holidays. In addition, with this loan she'll also purchase spare parts and pay for labor, because her freezer is in need of preventive maintenance. She tells her Kiva lenders: "Thank you for giving me support so I can grow and therefore support my family".
Previous Loan DetailsIngrid, 39-years-old, lives to the southwest of the city with her spouse and three children who are between the ages of 7 and 11. There in her parent's home she makes a living selling cold meats and candy products. Her business was born with the capital her spouse gave her, who works in a company,… More from Ingrid'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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Success!! The loan was 100% repaid