Update on MarielaThanks to the support for her business of selling various merchandise, Mariela used her previous Kiva loan to buy a large volume of stationery, women’s clothes, and cosmetics to sell to her customers. With this investment, she was able to improve the image of her business and increase her profits.
She is currently applying for a new loan so that she can buy stationery and cosmetics in large volumes since these items have been requested by her customers. Mariela is grateful to the Kiva lenders and hopes that they will continue supporting people like her so that they can continue to strengthen their businesses.
Previous Loan DetailsMariela is a 65-year-old widow who has a 40 year old daughter and lives in the municipality of Sabanagrande, located near the city of Barranquilla. Mariela sells various merchandise by distribution and she also sells from a little shop in her house, which she started 7 years ago. She began with… More from Mariela'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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