Update on Eduardo RafaelEduardo is a cobbler and it is going well and this is thanks to his Kiva credit, combined with his capacity for work. Upon accessing a loan he invested it in the purchase of materials like leather, soles and other materials. He was able to get discounts and fabricate new designs that were sold very quickly. The increase in his production helps improve his life and the dreams of his family. These improvements are reflected in the well-being of his family. He says to his financiers (Kiva lenders) that they should continue to help the small Colombian micro-businesses, so that they can meet their goals. That is what Eduardo is grateful for. Currently he is applying for a new Kiva loan with which he will purchase a display case in order to show off his new December designs, as well as to purchase material like leather, vinyl, glue, etc. The quality with which he makes the shoes, which changes according to the season, is what makes the investment of Kiva credit so successful for Eduardo's shop. Eduardo has plans for great success for him and his family and the loan will allow him and his family to have a happy Christmas season and to make many goals so that his 2013 new year will be prosperous.
Previous Loan DetailsEduardo has bought materials with which he has created new designs for sandals. His business has changed since he received his Kiva loan, because he was able to fulfill his obligations to all of his customers. His goal later on is to grow his business in order to provide employment to many who ... More from Eduardo Rafael'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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