Update on Elizabeth MariaElizabeth and her husband manage to support their family by working together selling decorative items in small quantities. They pack these items manually and sell these in stores and other small commercial establishments. Their business idea was born when they observed a need in the market and knew that they had experience and competence in this area.
In addition to her work packing these goods, which she does alongside her husband, Elizabeth is a dressmaker and makes additional income that helps very much to improve the well-being of their household. The couple's goal is to help their 16-year-old son to become a successful professional, which is the source of their eagerness to grow their income and support his well-being in the best way that they are able.
Elizabeth is currently applying for a loan which she will use to buy decorative items at wholesale prices. They will resell these in small quantities to be used daily by families. What will make them successful is their experience, their capacity for hard work, their discipline and their common goal that the family is working toward as a team.
Previous Loan DetailsElizabeth is 55 years old and lives with her husband and 14-year-old son, who serve as her primary motivation in life. Twenty years ago, she arrived in Cartagena de Indias from the city of Amurallada in search of a better future. Elizabeth wanted so much to study in order to become a… More from Elizabeth Maria'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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