Update on AndreaAndrea has a business selling beer. She invested her whole Kiva loan, buying lots of cases and increasing her stock and working capital. Right now she is getting ready for carnival, when sales normally increase. She knows the business and knows she should have a lot more inventory, not just to sell directly to her customers, but to distribute to liquor stores when they run out. That is the reason that she has turned to a Kiva loan. Once again, she will work very hard to be able to really prosper more every day. Her message to the Kiva lenders is the following: "Thank you very much for your contributions and help that have benefitted my business and especially my family." The new loan she is applying for today will be invested in buying beer and in tents, so her customers are more comfortable and can enjoy family gatherings at her business, masked and dancing to the beat of the drums.
Previous Loan Details57-year-old Andrea is a married woman who owns a business where she sells refreshments. She also makes corncob rolls: corn batter wrapped in leaves of the same plant, prepared with the most tender and natural corn, known only to Andrea, and mixed with cheese, aniseed, etc. Through her business she… More from Andrea'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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