Update on JuanaJuana knows how to work her business. She takes advantage of the busiest seasons to obtain a Kiva loan and in this way to have a large assortment of fish. For this reason she is asking for a new loan, only after sending her blessings to the Fundación Mario Santo Domingo and to her Kiva lenders, who she asks for continued support. She will use the new loan to buy fish and prawns, although her merchandise customers have already placed orders and he will honor those, because she is very punctual. She offers fair prices and appropriate repayment periods to be able to recover her moneys in a comfortable manner and without losing the money she had invested.
Previous Loan DetailsWith her previous Kiva loan, Juana bought men’s sweaters, bed sheet sets and towels, and also invested in buying a large quantity of seafood. She was able to sell everything and made a little more income than usual. Now Juana is gearing up for Easter and needs lots of seafood, as it’s the ti... More from Juana'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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