Update on PolicarpoPolicarpo is 69 years old. In his traditional family business, he used a Kiva loan to pay cash for fabric remnants from the workshops, to fill his orders from industrial businesses. His investment was successful, because he managed to increase his production and continue his business growth. Now he is applying for a new Kiva loan, with which he will buy remnants in greater quantity, taking advantage of the increased production in the small workshops in the months of November and December. The oversupply gives him the opportunity to obtain good prices, which improve his competitive position in the market. His success in the business consists of his knowing the market and the peaks of supply and demand very well and when it is propitious to make his best investment, to sell more and to set very competitive prices. His dream of prosperity is to continue striving to increasingly improve the quality of life of his family, and it is assured that this will be with his persistent effort and from the hand of God.
Previous Loan DetailsWith his previous Kiva loan, Policarpo bought fabric remnants and was able to produce several tablecloths which were sold for money. At the moment, he is preparing to receive a new Kiva loan so that he can increase his volume. He is planning to buy textiles because he has many orders and needs ... More from Policarpo'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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