Update on WilliamWilliam has done very well in his shoe-making business and small store where he sells various items that his customers usually buy at retail level and which are a daily necessity for families. With his previous loan from Kiva, he was able to increase production for the past season, and this helped him to invest in other items.
Today, he is very satisfied, and is applying for a new loan through Kiva. He will use it to buy to buy materials to make new shoe designs and various items such as accessories and school supplies. William has a message for his lenders: "I am very grateful for this opportunity, and I hope you support me again".
Previous Loan DetailsWilliam, 38, lives in the municipality of Galapa nd he makes women's, men's and children's shoes for a living. He lives with his wife and 4-year-old son in their own house which they have built through hard work. He learned his trade from an uncle who used to take him to work with him when he was… More from William'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