Update on Wilson EnriqueThanks to his Kiva loan, Wilson bought yeast wheat flour, cheese, fat, and he also remodeled his store. Now he feels more comfortable since he had a greater inventory of finished goods which he sold to earn a bit more.
The new loan he is applying for is to be invested in the purchase of raw baking materials required for the Christmas season, since he will prepare the best breads, desserts and cakes with the flavor and appearance of this period: Christmas bread, the Old Year, etc. are typical names for the products he will make.
He will also buy a second-hand oven in good condition, with which he plans to increase production. Wilson sends this message to the Kiva lenders: "I appreciate the support I've received and I send many blessings to the lenders."
Previous Loan DetailsWilson, 33, lives in the municipality of Puerto Colombia, a town that is 25 minutes from Barranquilla on the Caribbean coast. There he runs a bakery named after himself, where he makes all kinds of bread, pastry and general baked goods. He sells most of his bread to the stores in the town of… More from Wilson Enrique'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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