Rosa Del Carmen
Update on Rosa Del CarmenRosa multiplied her Kiva loan because she was able to pay invoices for merchandise she bought at a good price because she paid in cash. She is preparing for the holiday season and New Year and is asking for a new Kiva loan because her lack of working capital is a challenge; her customer requests are greater than usual. She will use the money to buy various types of merchandise to fill her customers’ requests. Rosa says to her Kiva lenders, “Thank you and may God bless you, for you are doing good work with me and other persons.”
Previous Loan DetailsRosa started working independently selling fabric, shoes and bags as she has always liked working independently and managing her own money. Her customers were her neighbors and her closest friends who have gradually recommended her to a lot more people. As a result, she has managed to achieve a... More from Rosa Del Carmen'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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