Update on Francisco RafaelFrancisco used his previous Kiva loan to buy a ‘placa madre’ (motherboard). This is the primary component that he used to completely improve his computer. He is now very enthusiastic about his results.
His business is more effective, and that is why he is requesting a new Kiva loan. He will use the loan to update his monitors. He will do this to complete his plan of continuous improvement of his work tools. This way he will manage for his business to have a better appearance.
Francisco tells the Kiva lenders, “A special thank you because with your help you are contributing to the growth of my business.”
Francisco dice a los financiadores de Kiva “ Un agradecimiento especial porque con su ayuda están contribuyendo al crecimiento de su negocio.
Previous Loan Details30-year-old Francisco owns an internet cafe located in his home in a southern suburb of the city, where he lives with his spouse and their two children aged 4, and 9 months old. He has five years of experience in his business. He is a computer technician and needed to develop a related activity… More from Francisco Rafael'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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