Update on Juan CarlosJuan bought food in quantity for his business and quickly sold out. He was able to generate more possibilities for purchasing. This was thanks to his Kiva loan. How he is preparing for the holiday season and Christmas Eve, so he is requesting another loan that he will use to buy merchandise and expand his shop’s infrastructure so that his customers are more comfortable and can have many products to choose from. He is very grateful and says, “Thank you for this opportunity. The business has prospered more and he has many items and also bought a display case to better organize his products.”
Previous Loan DetailsJuan Carolos is 29 years old and lives in the municipality of San Juan Nepomuceno, located in the department of Bolívar, He has a business there selling food and drinks. Most of his customers are housewives and their families living in and around his neighborhood. At the present time, his cli... More from Juan Carlos'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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Success!! The loan was 100% repaid