Update on Faneth YolandaFaneth used her previous Kiva loan to buy beauty products, shoes and clothing for men, which she sold quickly and with which she earned money. With her previous Kiva loan she increased her sales and profits, greatly impacting her quality of life. With her previous Kiva loan she was able to buy at promotional and sales prices, and this was good for her business. Her message for Kiva lenders is the following: "I am very grateful for the help you provide, and hope that you will always continue supporting me." Faneth is now applying for a new Kiva loan, with which she will buy new beauty products. She has arranged good discounts on these products, in order to help her to offer good prices to her customers and make them more loyal to her business every time.
Previous Loan DetailsFaneth is a 63-year-old businesswoman who sells products through specialized guides or catalogs. She started this business more than 25 years ago to make income in order to support her household which consists of her husband, who works as a builder, and her son, who is now 28 years old. Faneth ... More from Faneth 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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