Update on JuanJuan bought beautiful natural flowers with his last Kiva loan. As a result he increased his sales a lot, and also bought vases in a larger quantity than usual with which he made beautiful flower arrangements. Now he is applying for a new Kiva loan that he will use to buy flowers such as: roses, carnations, pom poms, daisies, greenery and flower foam. He will also increase his inventory of artificial flowers, because there is a strong seasonal demand for these toward the end of the year, as Christmas flower arrangements are gifts that many families give each other to show their affection and celebrate the unity of the house of God.
His message to the Kiva lenders is the following: "It is important for us to be able to rely on the institutions that support small businesses. Thank you for the new opportunity that you are giving me to strengthen my business."
Previous Loan DetailsJuan G. is 39 years old and sells flowers like roses, jasmine, gladiolus, carnations, etc. In the beginning, he ran this business with his cousin. When he was ready to work at the market on his own, he became independent, and now he has been making his own money for 10 years. He is located close to… More from Juan'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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