Update on Alba LuciaWith her previous Kiva loan, Alba bought school supplies, stationery supplies, cosmetics, and home goods wholesale and for cash to supply her general store. Today, she has greater liquidity and this is thanks to her Kiva loan, with which she increased her sales and her profits. Her investment will be successful because she has loyal customers. She offers her customers fair prices and she attends to them in a friendly manner. Currently, she is applying for another loan, with which she will buy cosmetics and a variety of general store products, in cash and in bulk. She expresses "a very grateful message to Kiva and to FMSD and asks that they continue financing, to continue increasing her quality of life and that of her family."
Previous Loan DetailsAlba is 54 years old and lives in the July 20th neighborhood with her family which consists of her husband, a merchant who sells housewares door-to-door, and their five grown children. She manages a store where she sells stationery, toiletries, seasonal gifts, and a variety of other products such… More from Alba Lucia'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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