Update on GloriaGloria used her previous Kiva loan to buy food products and groceries such as rice, sugar, oil, bananas, toiletries, etc. The loan allowed her to improve her purchasing power and she was able to have available more of the products that she sells the most of in her business. She is very satisfied and, for this reason, is requesting another Kiva loan which will enable her to have a really good stock of products available to sell to her customers over the Christmas and New Year period. This will ensure that she is able to sell more products as is usual at this time of year. She will buy snacks, soft drinks and food products. Gloria sends the following message to her Kiva lenders: "Many thanks for your cooperation. I hope that God blesses you today and always and that you continue helping other people".
Previous Loan DetailsGloria will use her new Kiva loan to stock her store with the merchandise that moves quickly for the end of the year. She will mainly stock up on things like soft drinks and groceries. She is very happy because she used her Kiva loan to finish the flooring and the covering of her patio where ... More from Gloria'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