Update on Eduardo AntonioWith his previous Kiva loan, Eduardo bought basic goods and supplies in larger quantities, with which he obtained discounts and increased his sales volume. He is now applying for a Kiva loan with which he will buy building materials to repair the floor of his business and buy basic goods such as cheese, meat, fizzy drinks and other refreshments to offer much more and increase his profits.
Since he received his loan from the Fundación Mario Santo Domingo, Eduardo has opened 2 more sales locations and has generated 2 jobs which benefit other relatives as well. Little by little, he will achieve many of his dreams for his and his family's good. He tells Kiva loan lenders that "with your help, I have achieved many of the aims I had set out" and he asks that you "continue supporting, helping many people to make their dreams a reality as well."
Previous Loan DetailsEduardo purchased many things with his earlier Kiva loan, such as meat. sodas, vegetables, spices, disposable items, plastic chairs, and also invested in the sports shoes and clothing which sold very well and invested in. He is very satisfied, and for this reason is applying for a new Kiva loan to… More from Eduardo Antonio'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