Update on Alvaro EnriqueWith his previous loan, Álvaro bought a greater volume of beef, stocked his business, and sold much more. Currently, he is applying for a Kiva loan in order to increase the volume of his beef purchases and to continue increasing his working capital - and with that, his clientele – in order to generate more profit that benefits his family.
Álvaro has this message: “Thank you for your help, and may you always continue to offer it.”
Previous Loan DetailsAlvaro has been selling beef for 25 years. He learned the trade by helping his grandfather. It is from his grandfather that he inherited this trade and under his grandfather that he learned the business. Through his meat business, Alvaro has managed to provide for his family which consists of ... More from Alvaro Enrique'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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