Update on IsabelThanks to her previous Kiva loan, Isabel increased her sales of products she made in her shop. She doubled her buying capacity and was able to make many more products. Now she has a bigger inventory with a lot of orders especially for the Christmas and end-of-year season that comes with new dreams and a lot of parties, for which her customers need to be very elegant to enjoy with their families and wait for 2013.
This is why she's requesting another Kiva loan to buy fabric remnants, thread, and buttons. This will enable her to fulfill her current orders because it will increase her buying capacity.
She sends the following message to Kiva lenders: "Thank you, and may you continue supporting small businesses, which in the future will be the big companies of Colombia."
Previous Loan DetailsIsabel is 55 years old and makes a living as a seamstress, making curtains and bed covers. She is separated from her husband. She has succeeded in generating income to sustain her son who is 20 years old. She dreams that he will be a very successful person; this is the motor that drives her to work… More from Isabel'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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