Update on GonzaloGonzalo is very happy because he was able to increase his ability to buy vests, reflectors, and motorcycle accessories thanks to his Kiva loan. His income has increased little by little and he is able to provide his daughter with a better quality of life. He is sending a message to the Kiva lenders and is asking that they continue supporting him and his small business sector. He also appreciates the trust they placed in him when giving him this loan. He is asking for another loan that he will use to buy motorcycle accessories, such as helmets, vests, rear view mirrors, and seats. These items are constantly sought after by his customers and he needs have a stock on hand in order to increase his sales. They sell quickly.
Previous Loan DetailsGonzalo, 42, lives in the city of Barranquilla. He has an 8-year-old son and works selling motorcycle accessories. He started his business 13 years ago, when he arrived looking for work from the city of Bucaramanga, in the department of Santander. This was how he decided to undertake a bus... More from Gonzalo'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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