Update on DomingoWith his previous Kiva loan, Domingo purchased papaya, bananas, pineapple, avocado, and melon. His business improved and he has gained capital and improved his inventory. Now he has a better income and is very grateful to the Kiva lenders for this great support. With this loan, he will invest in avocados, bananas, papaya, and pineapple because Holy Week is coming up and with it, the preparation of sweets to share with neighbors. The fruits are the base of their preparation, which means his customers increase during this time and impact the sales in his fruit stand. This is precisely what he will do with his Kiva loan to apply it to his business so that it is effective.
Previous Loan DetailsDomingo is 49 years old and lives in the south-west of the city with his wife and their three children who are between 18 and 23 years old. Domingo works there selling tropical fruit such as avocados, papaya and bananas. He does this work every day. Domingo arrived in the city of Barranquilla ... More from Domingo'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
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Mar 15, 2013
- Mar 22, 2013
- Currency Exchange Loss:
- Jun 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.