Update on Libia EstherWith her previous Kiva loan, Libia stopped working on high cost credit and feels much more relaxed because of the profits the loan has brought her. With the loan she could buy in cash in higher volume, and she gained discounts. Now she is applying for a new Kiva loan to reinvest the money she has regained from her account and the loan capital she gained be responding to her clients, who have a need to acquire goods to make a new line. She is very grateful to Kiva and wants to continue counting on the support of financiers in the world to be able to grow her business with a lot of work.
Previous Loan DetailsLibia has three children whose ages range from 13 to 29. She owns a business selling plastic bags in all sizes, an activity she started when her children were little. She became unemployed and she was separated so she had to find alternative ways to generate household income. Initially she w... More from Libia Esther'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