Update on Guido DanielGuido is pleased with his previous Kiva loan because he was able to buy copper wire in large quantities for his repair shop. He has progressed and generated more income, so he has been able to improve his family’s quality of life.
At the moment, Guido is applying for a new Kiva loan so that he can buy more wire for recoiling. Since this material wears out often, he is able to generate more income.
Guido expresses his appreciation to the Kiva lenders and would like to tell them that his previous loan gave him the strength to move forward. It also provided an important stimulus to make progress in his life and with this family.
Previous Loan DetailsWith his first Kiva loan, Guido purchased materials and repaired household appliances, responding more quickly to his customers, and he reinvested is profits. Since then he was able to pay in cash and receive discounts on his products, and increased his profits. He is currently requesting another… More from Guido Daniel'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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