Update on MarybelMarybel used her previous Kiva loan to buy fish and avocados. As a result, her sales went up and her income increased, which meant that she then had more working capital to invest and to use to cater for her customers’ needs. Since she received her Kiva loan, she has started to stock other meat products such as offal, which has proved popular with many of her customers who have businesses. She is currently applying for a Kiva loan to buy seafood and avocados in greater quantities. Marybel would like to thank her Kiva sponsors for this opportunity because she had no previous credit record and now she has more options for accessing loans.
Previous Loan DetailsMarybel is 37 years old and lives in the south of the city along with her husband and two children, ages 4 and 8. [She and her husband] sell fish and avocados on foot in their neighborhood and surrounding area. Marybel lives in her parents’ home, with whom she arrived in Barranquilla at age sev... More from Marybel'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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