Maria Del Carmen
Update on Maria Del CarmenThe season for celebrating Mother's Day is approaching and Maria's customers have already been putting in requests. She is very satisfied to have such a high volume of requests, but they are greater than her capacity to fulfill them. And so, she is saving money and applying for a new loan with Kiva that she will use to purchase more clothing and shoes in order to meet her customer's demands and be able to increase sales. With her previous loan, everything went well because she was able to expand her merchandise and she was also able to attract new customers and all of this together has helped her to improve her quality of life. Maria sends the following message: "Thank you to the people at Kiva who have helped me to expand my business. "
Previous Loan DetailsMaria, 46, lives in the city of Soledad with her husband and 3 children, ages 16 to 22. She sells a variety of merchandise, especially footwear, bags and clothing. In addition, she sells fast food in the doorway of her house. Two years ago she also began selling repair parts, washing machines and... More from Maria Del Carmen'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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