Update on JuanJuan took advantage of the end of the year to sell a lot more and this was thanks to the previous Kiva loan with which he bought cases of beer, sodas and snacks. His sales were as high as the demand, because he responded to his customers for the beautiful family holidays of Christmas and New Years. Right now, he is applying for a new Kiva loan and he will buy raw materials to make food and beverages, which are his main products. With them, he will quickly grow his inventory of finished products.
Previous Loan DetailsJuan is 62 years old, and he lives in the city of Barranquilla with his wife. He has four children between the ages of 32 and 39. He came from the Magdalena department to the city of Barranquilla 27 years ago. He bought a house with his savings, and on that corner he started his own business s... More from Juan'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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