Update on DollyDolly is very happy because Holy Week is approaching, and with it will come an increase in her fish sales. Fish is one of the traditional foods for her clients during Holy Week. Her business has grown bit by bit, and with her loans she has been able to improve her living conditions. She wants to tell the Kiva lenders that their support is very important and that she has been able to start to meet her goals. She is now applying for a new Kiva loan in order to stock up on bocachico [a Colombian fish], mojarra, lebranche, lobster, and prawns. These products are in highest demand for making the various dishes for the religious holidays. She will make money once again.
Previous Loan DetailsDolly’s life unfolds between taking care of her two children who are 8 and 10 years old and the work she does to keep them in good conditions of wellbeing. She has her own business selling foodstuffs that she brings from a town in Magdalena Department located on the shores of the river with the ... More from Dolly'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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