Update on Rosa VictoriaRosa is very pleased with her dressmaking business, because thanks to her Kiva loan, she was able to invest working capital in the business, enabling her to purchase raw materials and supplies and do preventative maintenance work on her machines. She managed to complete the production of garments to fill an important order and improve her production times, thanks to the Kiva loan that allowed her to improve the technical infrastructure of her business. Her standard of living has increased as a result of her work, and now her purchasing power is growing by the day.
The festivities that take place in the month of December are approaching; this is a time when all of the families want to look very elegant as they await Christmas and the New Year. Her orders now exceed her purchasing capacity, and so for this reason she is seeking a Kiva loan once again. With this loan, she will buy fabric and thread in bulk, and she also plans to make some improvements to her workshop.
Rosa sends the following message: "I give thanks to God for Kiva, and the opportunity that they have provided me to belong to the great small-business family of the Fundación Mario Santo Domingo, and for the support that I have always received when I have needed it."
Previous Loan DetailsRosa Domínguez D. A. is a dressmaker who is aware of opportunity. She makes all kinds of clothes, not only women's clothes but also men's and children's. She makes formal and casual clothes and sports clothes. That is to say, she provides her customers with everything they want. Right now she… More from Rosa Victoria'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