Update on Marly"Thank you for your help offered to me and others who need it." These are the words of thanks that Marly sends to her Kiva lenders who have made it possible for her to invest in her business and increase her earnings through her previous Kiva loan.
Today she is requesting another loan in order to buy boxed lunches, groceries, meats, and other products that sell fastest in her store. Prices have increased for these so Marly plans to buy her merchandise in bulk to get the best prices so she will earn more while passing the savings onto her customers through competitive prices. This is exactly what makes her Kiva loan a successful investment.
Previous Loan DetailsMarly thas a store where she sells boxed lunches, groceries, beverages, meat, etc. wholesale. In her neighborhood she is well known and her customers are regulars because she works hard to offer then quality service. She started this business 20 years ago when she lived with her husband, because he… More from Marly'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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