Update on JavierJavier sells handicrafts that he produces himself. He did very well with the first Kiva loan he received since he was able to increase the number items that he produced. As a result, he was able to maintain an inventory of goods that he could display to his customers, which led to more sales.
Javier is currently applying for another Kiva loan so that he can buy materials for producing bags that he can sell in his shop. This will enable him to continue earning more income.
Previous Loan DetailsJavier is married and the father of three children whose ages range from 1 to 6 years; he lives with his family in San Jacinto, a town in Bolívar Department. By tradition, he’s a craftsman; he sells hammocks and backpacks. He started the business six years ago and like he says, “it’s been o... More from Javier'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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