Update on Mara CeciliaMara used her previous Kiva loan to buy raw materials to offer diverse, delicious dishes in her restaurant; she sold out quickly and the business grew. Now, her income is higher thanks to the sales. She’s currently applying for a new Kiva loan to buy raw materials and kitchen utensils to cook new dishes because she must be ready with dishes proper for the upcoming Christmas and New Year’s season. She’s very grateful to Kiva lenders and says: “Thanks for the support provided.”
Previous Loan DetailsMara, 43, is going to receive her 2nd Kiva loan and is very satisfied because with the first loan she bought meat and general provisions in greater volume and increased her sales of food, especially at breakfast and dinner time. Now with her new loan she will buy plastic tables and chairs to… More from Mara 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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