Update on Nellys YolandaNellys bought a sewing machine with her previous Kiva loan and this allowed her to fulfill her dream of making progress in her business. She is very grateful for the loans she has received and she hopes to continue working with these resources.
Nellys is currently applying for a new Kiva loan which she will use to buy materials for making her own hand-made creations. The end-of-year holiday period brings her a lot of customers and this is just what she needs to grow her business. Thanks to her Kiva loan, Nellys will be able to buy in larger quantities and thereby meet her end-of-year demand. She is applying for a new loan so that she will have a lot of threads in different colors available for making more bags which she has orders for. This will guarantee the success of her Kiva loan.
Previous Loan DetailsNellys, 39, is a married woman who has three children between the ages of 12 and 17 who currently are studying in the town where they live. She has her business making handicrafts, especially backpacks, bags, and hammocks, which she learned to make through the cultural tradition of her family, for… More from Nellys Yolanda'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