Update on Martha CeciliaWith her last Kiva loan, Martha bought chicken directly from farms and sold it at her business. She also bought foodstuffs such as rice, oil, coffee, and sugar. She was able to offer her good customers credit and she now has more buyers. She is currently applying for a Kiva loan to buy chicken in greater volume because Christmas and the new year are approaching and she needs to be prepared to sell more to increase her profits. She is very happy with her chicken sales because they have increased, as well as her grocery sales, and she thanks Kiva's lenders and Fundación Mario Santo Domingo, as she tells us that if it were not for these organizations, she would be working for loan sharks and making less money.
Previous Loan DetailsMartha is 40 years old and is a hardworking woman with a family of six children between the ages of 24 and 6. She generates her family income through her drink and grocery business. When she began her entrepreneurial adventure in San Jacinto, located within the Bolvar province, she began by… More from Martha Cecilia'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Dec 13, 2012
- Jan 8, 2013
- Currency Exchange Loss:
- Jan 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.