Update on AndersonAnderson increased his inventory with his Kiva loan and quickly sold his footwear. With this investment he managed to offer a greater variety of product designs and now he can offer his customers loans, which makes his turnover high and requires more capital all the time to respond to demand.
This is why he's applying for another Kiva loan to buy school shoes to respond to school season in the first trimester. This comes with high demand for school shoes on the part of parents, who need to respond to their children's needs. This is what gives the potential for success to the investment of a Kiva loan in this season.
Previous Loan DetailsAnderson, who is 25 years old, sells footwear of various types, which he acquires in stores in the city of Barranquilla and also buys from another micro-business. He makes his sales for cash at a commercial location and also manages some credit accounts. His business is lively and has good… More from Anderson'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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