Update on Ingrid SagrarioIngrid bought boxes of beers which she chilled and sold, increasing her working capital. Today, she is preparing for the holiday season and requires much more stock for her business. For this reason, she is turning to Kiva before the demand for these products increases, and she does not have sufficient funds or time to get more product during the holidays.
With her new Kiva loan, she plans to buy a large volume of beers and sell not only at retail, but also wholesale. Your investment to Kiva will be successful because she is adjusting to seasonal demand, knows the market, and has real buyers that have already commissioned soft drinks and beers.
She is very satisfied with her business because it has grown with the financing and her hard work, improving the quality of life for her and her children. In her message to the financiers, she said she appreciates that they have lent money for her to work better at such a low cost.
Previous Loan Details38-year-old Ingrid lives in 7 de Abril neighborhood with her three children who are between 8 and 15 years old. She has been making income through her business selling drinks, both by the crate and individually, for the past eight years. She has a cold storage space in her home which she has wo... More from Ingrid Sagrario'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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