Update on Yuris MercedesColony school supplies, ladies' toiletries and undergarments and womens' clothing are the products Yuris bought wither her last Kiva credit, which has increased her prosperity. Now she is applying for a new loan, because her work capital continues to be insufficient to respond to an increase in customers that ask for home products, perfume, beauty products and clothing.
With her new Kiva credit, she will supplement her purchase and satisfy her clients, who are more and more loyal and allow her to earn a little more. She says to the Kiva financial backers: "With your help my business and my family have prospered, and I am extremely grateful."
Previous Loan DetailsYuris used her previous Kiva credit to buy school supplies, children's underwear, and personal hygiene products. Now, the time for students to start schools, colleges, and universities is approaching, and she needs to reinvest in school supplies to meet to the seasonal demand and make a success ... More from Yuris Mercedes'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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