Update on Martha CeciliaMartha used her previous Kiva loan to buy food products, snacks and soft drinks which she sold in her store and, as a result, she slightly increased her working capital and profits. Since she received her loan she has opened another business and now has two income-generating businesses in different parts of the city. She sends the following message to Kiva lenders: "Thanks to the support you have given my business, it has grown rapidly". Martha is currently requesting a new Kiva loan with which she plans to buy products such as milk, sauces, coffee, sugar and other food products because this is a time of year when her demand, and consequently her profits, increase.
Previous Loan DetailsMartha lives in the southwest part of the city with her partner and her four children, ages 13 to 22. She has owned a store in the La Pradera neighborhood for a little more than three years. Her business is located in her parent's house. She has all the infrastructure necessary for operating... More from Martha Cecilia'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Dec 10, 2012
- Dec 18, 2012
- Currency Exchange Loss:
- May 20, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.