Update on RosalbaRosalba used her previous Kiva loan to buy a variety of goods such as bedspreads, underwear and even bags of water. She managed to increase her stock, sell a lot more products and make more income than usual. Her business has grown and she feels like she now has a lot more stability in her life. She thanks Kiva for having loaned her the money which allowed her to make these achievements.
Rosalba is currently getting ready for the Christmas and New Year season. This is a time of year when her sales increase and she must have good stock available if she wants to impress her customers and draw their attention, interest and desire to buy. This is why she is applying for a new Kiva loan which she will use to buy clothing and underwear. She already has orders for these items from her customers which means her Kiva loan will be a complete success.
Previous Loan DetailsRosalba M. M. is 76 years old and lives with her working son. They live in the 7 de Abril neighborhood located in the south of Barranquilla. Among other products, from her refrigerator she sells products such as Boli, ice, bags of water. She is asking for 1,000,000 COP to buy drinks and other me... More from Rosalba'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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