Update on LuzalvaWith her previous loan from Kiva, Luzalva bought raw materials and supplies such as fabric, thread, and lace for making girl's clothing. Through this, she increased her capital and her ability to buy wholesale, but not by enough to meet her customer's requests. For this reason she is requesting a loan from Kiva, to buy rolls of fabric and accessories so that she can continue to design and make the beautiful children's clothing that look wonderful when worn by little girls.
She sends her greetings to lenders from Kiva and the Foundation and hopes that they continue to support her, since this has helped her to increase her liquidity and profits.
Previous Loan DetailsLuzalva used her previous Kiva loan to buy raw materials to make children's clothes which she sold on credit. She invested her profits in her business. She is currently applying for a new Kiva loan which she will use to buy fabrics, lace and linings because she has orders from people who want to… More from Luzalva'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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