Yesenia Del Carmen
Update on Yesenia Del CarmenYesenia bought chairs to replace the old ones that were deteriorated. She also bought more basic materials, which allowed her to increase production. Her sales increased because she had more customers and this is thanks to her Kiva loan. Yesenia is now applying for another Kiva loan that she will use to buy items for the kitchen and more chairs so that her customers do not have to wait for others to finish. Her business is very presentable and her life changed. The loan generated more income which she has used to buy household items and everybody now feels happy. "I thank those who helped me and who continue with this wonderful work to make our businesses bigger and more prosperous."
Previous Loan DetailsYesenia is a married woman who has three children whose ages range from 18 to 26 years of age. She started her business selling food, especially sancochos [stews], one of Colombia’s most popular dishes, because of need because she and her parents arrived in the town of Soledad as displaced peopl... More from Yesenia Del Carmen'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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