Update on AndreaAndrea invested her Kiva loan into supplies and ingredients such as sacks of corn, pimpina oil, meat products, and she had enough left to buy a display case where she started her varieties business. Her income increased and her business grew. She says, “I am grateful to my sponsor for supporting this loan. Thanks to it, I’ve gotten ahead.” She is asking for a new kiva loan with which she will buy many supplies such as cooking oil, corn, meat products, and will also stock her display case with a variety of merchandise. This is the season of celebrations; her customer’s consumption increases, and she must be able to respond to keep them loyal and increase her working capital and income. She will achieve this thanks to Kiva and the access to funds for her loan.
Previous Loan DetailsAndrea is applying for her second Kiva loan. With her previous loan she bought assorted goods, sheets, towels, and small domestic appliances. Her capital increased slightly. This time she will use her new Kiva loan for shoes and assorted goods in greater quantity. She has some savings that ... More from Andrea'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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