Update on Mario AlfonsoThe Kiva loans Mario has received have helped him a lot because he has increased his inventory, satisfying his customers' needs and increasing his sales. His profit margin is greater today, which has allowed him to rent his house and better organize his business independently from his home, giving his customers better service.
To the Kiva lenders he says: "Your support is very important. You're helping to build a better community and, with this, to achieve proposed objectives and goals."
Currently Mario's applying for another Kiva loan to buy merchandise for the Christmas and New Year season: stationery, accessories, and gifts for the home. This is his strategy for attracting customers and getting their attention, interest, desire, and purchase this season, when the best desires surface and all his customers want to decorate their homes for parties and share gifts that show the happiness and love of this season.
Previous Loan DetailsMario T. is applying for his fifth Fundación Mario Santo Domingo, second Kiva loan to stock up on school supplies like notebooks, pencils, crayons, ball point pens, construction paper and reams of letter and legal size paper as well as to buy parts like plugs, ball bearings, ignition coils and fan… More from Mario Alfonso'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