Update on LercyLercy invested her previous Kiva loan in her seamstress shop. She bought fabric, thread, and some tools with which she works even better. When she got her Kiva loan it was very good for her because she had more money in hand to make purchases in greater quantity.
She used it to respond to her current and potential customers and to complete a contract with an important clinic in the city. Therefore, she will buy fabric and supplies. Her message to her lenders is, “Thank you to the Kiva lenders for the support you give to me and my family.”
Previous Loan DetailsLercy is a garment manufacturer whose garments are of high quality. She worked hard and learned the trade while studying fashion design when she arrived from the municipality of Ayape in the department of Cordobal, where she was born. Cordoba is well-known for its livestock rearing par excelence.... More from Lercy'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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