Update on MarleneMarlene, who owns a convenience store, obtained a Kiva loan to buy a display cabinet. She did, indeed, buy one and, at the same time, she purchased foodstuffs to stock it. In the process, she gave her shop a completely new image. It is now better stocked, but has a faster turnover and her buffer stock is often insufficient to meet demand. This means that her purchases do not last long, but she feels happy because she sells everything. She will now capitalise on her captive clientele to offer them ice creams and will buy a freezer which she will stock with delicious ice creams made with the natural tropical flavours of fruits from Colombia's Caribbean coast. As her customers eat the product, they will be refreshed by the breezes and coastal sunshine. She is, therefore, applying for another Kiva loan and her plan should be very successful because it is the height of the Carnival season, when everything refreshing sells well.
Previous Loan DetailsWhen Marlene started her commercial activity she did so selling fruit and working hard. Gradually her capital increased and after two years she decided to buy merchandise to open her own store and sell snacks in the school in her neighborhood. Currently her business is growing more each day and ... More from Marlene'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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Success!! The loan was 100% repaid