Arlett Del Socorro
Update on Arlett Del SocorroArlett bought beers, fizzy drinks and a marquee with her last Kiva loan. Now her business looks more comfortable and she can work under protection from the sun and rain. She can also rent out the marquee when she is not working and this provides her with another source of income. She is currently applying for another Kiva loan that she will use to buy crates of beers and fizzy drinks and a generator for the business. Arlett sends this message to Kiva: "Dear investors, I hope you continue with this work. We are very grateful that you are helping and my family to progress in the business".
Previous Loan DetailsSoon they will celebrate Carnival in Barranquilla, and all the people in the city are preparing to enjoy themselves, each in his or her own way. The merchants are stocking their businesses, so that they can respond to their customers' requests with beverages, foods, handicrafts, costumes, parade ... More from Arlett Del Socorro'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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