Update on Niza EstherWith her previous Kiva loan Niza did many things, which gave her different opportunities to earn income. She took advantage of the opportunity to buy 3 washing machines, which benefited her washing machine rental service. With the income generated from her washing machine business, she was also able to stock her business. Her family's finances improved, and now she has a credit history and knowledge of new clients. Currently she is applying for yet another loan, which she will use to buy shoes, clothing, and sporting goods. She sends her gratitude to the Kiva lenders for all they do to help businesspeople.
Previous Loan DetailsNiza learned how to be a merchant over 20 years ago when she would accompany her mother who was also in this kind of business even though she never thought she’d support herself by it. She decided to call on it when her spouse lost his job and they needed to generate income to cover household… More from Niza 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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