Update on Amelia RosaAmelia makes clothing and things are going much better. Her income has increased and her customers have given out many references; all thanks to her Kiva loan, which allowed her to increase her income. Amelia wants to tell the Kiva lenders, “Being able to count on your support has allowed me to meet some objectives and I want to continue growing as a person and as a small business.” She is asking for a new Kiva loan to buy fabric, buttons, caps, fasteners, chords, elastic, etc. in the amounts she needs to satisfy her customer demands and be able to continue in a changing marketplace. Her Kiva loan will be successful as she wants to take advantage of the season where elegance and distinction are common among her customers during the Christmas and New Year celebrations.
Previous Loan DetailsAmelia is 50 years old and lives in the town of Soledad, together with her husband and her 26 year-old son. Her business is sewing products such as dresses, shirts, blouses and bedspreads. She also sells merchandise which she receives from Medellín such as jeans and t-shirts. Amelia has been in… More from Amelia Rosa'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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