Update on MarisolMarisol purchased merchandise; now her store is stocked with inventory and she is selling much more because of the variety that she is offering. The wellbeing of her family has increased, and that is because of her Kiva loan, for which she gives many thanks for supporting her business.
Marisol is currently requesting a new Kiva loan with which she will purchase the food items that sell the most quickly in her store, such as oil, rice, sugar, and dairy products. With this loan, she will purchase in greater volume in order to get better prices and be more competitive in the market. This is exactly what makes her Kiva loan a successful investment.
Previous Loan DetailsMarisol, 52, lives in the southwest of the city with her four children whose ages range from 19 to 28 years. She has a store there where she sells snacks, foodstuffs, soft-drinks, beverages and general staple items. She started her business in 1998 initially selling from place to place and then… More from Marisol'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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