Update on JovanaJovana is the owner of an internet cafe that got a Kiva loan for the purchase of printers, computers, and a display case. With this investment her sales increased, as did her clientele. She has especially seen a growth in student clientele. Her service is now much more rapid. Jovana sends the following message to the lenders: "I thank those who have supported me unselfishly through loans, so that I can get the business ahead. Thank you for continuing to support us, since this is a good work."
She is currently applying for a Kiva loan which she will use for the purchase of a new computer and another display case which she will stock with small items and stationery. This will be in response to the new market.
Previous Loan DetailsJovana, age 32, lives with her husband and 13 year old daughter to the south of the city. That is where they have a business providing Internet and telecommunication services by the minute. This is in addition to selling varied merchandise, which is another of her business activities that… More from Jovana'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