Update on JoséWith José's previous "CrediKiva" loan, he invested in fixing up his work space and buying certain tools, like testers and drills. His CrediKiva helped him a lot, because he improved the appearance of his business and the quality of his work thanks to his new tools, so his sales also increased. Since he received that loan, his family life improved because his income has increased and he is much more able to pay for family expenses. He sends this message to Kiva lenders: "I am very thankful because you allowed me to improve my working conditions with better infrastructure and better tools."
He is currently applying for another CrediKiva, which he will use to buy car speakers and electric wiring for standard radios. His investment will be successful because he has clients who demand those items.
Previous Loan DetailsJosé, who is 66 years old, offers electronic services for vehicle maintenance and repairs. He developed his job experience as a mechanic and elecromechanic's assistant. He was employed by a company for 6 years, from which his own company was born. He lost his job and decided to do the job… More from José'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