Update on Maria ElizabethMaria has done very well with her business. With her previous credikiva loan she invested in making improvements to her shop and buying ingredients and supplies in bulk.
This way she built up her restaurant business, producing greater sales and even more income, because after she equipped the facilities of her restaurant, she rented it out and now receives money for rent, which she invests in merchandise. This has made her other business grow also.
As she is enthusiastic, she is once again applying for a loan with which she will buy medicinal products, sheets, bedcovers, clothing and small electrical appliances ordered by her best customers. This will make this investment very successful.
Previous Loan DetailsMaría, 59 years old, has a business in the center of the city where she makes and sells delicious lunches. She arrived to the city from Medellín with her husband and their 5 children who are now between the ages of 18 and 40 years old. Initially they began a soft drink store that they couldn't co... More from Maria Elizabeth'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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Success!! The loan was 100% repaid