Update on Manuel AntonioManuel also rents out apartments and commercial spaces and offers cellular phone service. Manuel has received 3 loans from the Fundación Mario Santo Domingo, with which he has been able to grow his business in working capital and also his business of selling cell phone minutes, at 3 different points of sale.
His desire for prosperity does not let up, which is why he is turning to his Kiva loan to buy construction materials and to make renovations, in addition to buying cell phones, with an eye to increasing service. With another Kiva loan, he increases his possibilities of growth and renovations, offering his tenants a better impression of the quality of services that he offers. This is precisely the success of his investment.
Previous Loan DetailsManuel, in the beautiful city of Cartagena, owns a business selling refreshments and drinks, with which he manages to support his family, made up of his wife and four children who are between the ages of 11 and 24. He started his business selling cell phone minutes and beers in his neighborhood… More from Manuel Antonio'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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