Update on Carmen CeciliaCarmen used her previous Kiva loan to buy an industrial filleting machine, fabric, thread, zippers, buttons, etc. Carmen says that the previous loan was a great help so that the clothing would have excellent finishing touches and her customers would be very satisfied. This has opened new markets for her. Since receiving her Kiva loan her sales have increased and her financial situation has improved. Now she wants to improve her productivity so she needs an industrial recovering machine, ideal for making sleeves and pants. Her Kiva loan will be a success because she will be able to increase quality and diversify her products more. Her message to the Kiva lenders is, “I’m grateful to those who lend to us, the small businesses, and I hope you continue doing this wonderful work.”
Previous Loan DetailsCarmen lives in the south of the city in a very cheerful, popular neighborhood with her 35-year-old daughter. She carries out her clothes making and selling business there, an activity she’s been associated with since she was 14 years old when she learned it from her step-mother and later took c... More from Carmen 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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