Update on HumbertoHumberto made better quality handicrafts by buying supplies in bulk, and is very satisfied because he has greater inventory. This was thanks to his credikiva loan.
Currently he is applying for new loan that he will use to buy materials for making bags and hammocks. He will also buy a variety of merchandise, taking advantage of his experience in this new market.
His message to the Kiva lenders is the following, "I am very grateful for the loans received, and I hope to continue working with this organization."
Previous Loan DetailsHumberto, aged 41, lives in the town of San Jacinto, in the department of Bolívar. This is a land of hammocks and craftsmen who do vertical weaving. Humberto's family is made up of his wife and four children, who are aged between 12 and 17 years. His mother makes cultural handicrafts, and is… More from Humberto'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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