Update on Luis EnriqueLuis used his previous Kiva loan to buy machinery for cutting bones. He bought meat in quantity and sold much more. He was also able to repair his business’ roof. He is very happy about the Christmas and New Year’s seasons and he hopes to be able to offer his customers more products, since their consumption increases during this time.
This is the reason he is requesting a Kiva loan, which he will use to buy beef, ram, and pork. His number of customers has increased and he has new buyers outside of Malambo, where he lives and has his business. His message to the Kiva lenders is, “I am grateful for the support you have given me and my family through these loans. Thanks to you, my business has improved a lot and I hope to have your continued support.”
Previous Loan DetailsLuis used his Kiva loan to buy a machine to cut bones, lots of meat and improved the roof on his store. He’s very satisfied and his business is well located in the town and he has new customers in the city of Barranquilla that he sells to on credit. He’s now applying for a new Kiva loan to bu... More from Luis Enrique'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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