Update on SilviaSilvia used her previous Kiva loan to buy a new freezer and she is making much more ice. The money also helped her with her cell phone card, paper goods, and feminine accessories business. She is consolidating her business by selling ice in bulk. Her children have a positive attitude and a great desire to get ahead with their own work. Her message to the Kiva lenders is, “With responsibility, dedication, and imagination, one can get ahead in one’s business.” She is using her Kiva loan to buy edible items, miscellaneous merchandise, paper goods, school utensils, ladies’ accessories, etc. She plans to increase her utility through this investment and this successful use for her Kiva loan.
Previous Loan Details33 year old Silvia is the owner of a general store, where as well as selling various merchandise, like accessories, stationary, clothes etc., as well as offering a service of calls to cell phones, making the most of the clients that buy it every day. In this way she has managed to generate in... More from Silvia'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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