Update on HernandoHernando used his previous CrediKiva loan to buy wholesale non-perishable goods to make lunches in an effort to lower production costs. He was able to get special discounts and gain time by shopping less frequently. He is requesting a CrediKiva loan to buy products such as canned goods, fish and vegetables to maintain his inventory, save time and offer a wider variety on his menu.
He is very grateful to Kiva lenders and hopes to be able to continue receiving your support. With this new loan he will prepare for the holidays when the menu is based on traditional fish and seafood. This will make him ready for the Christian spiritual withdrawal of Holy Week.
Previous Loan DetailsHernando, who is 30 years old, is the proprietor of a restaurant in the center of the city, which he began as the result of a family tradition, since his parents worked in this business and he had to assume control because his father became sick. It has been his business for 12 years, and he has ... More from Hernando'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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