Update on ClaudiaThank you for helping Claudia who, with her Kiva loan, was able to purchase merchandise such as perfumes, colognes, lotions, and miscellaneous items, allowing her to diversify her product range, increase her sales and profits. With increased profits Claudia is able to help her husband more with the costs of the household. Claudia tells her funders: "Thank you for the funds that you have loaned me as with it I was able to grow my business and now I need still more help to keep going." Currently she is applying for a Kiva loan with which she will purchase a freezer so she can continue adding food products and she will purchase merchandise such as feminine products, jewelry, colognes, creams, and other items.
Previous Loan DetailsClaudia, 45, lives in the city of Barranquilla with her husband and two children who are 10 and 18 years old. Her business is selling beauty products via specialized catalogues through which she promotes her products, especially those that are on special promotion or on sale, to attain a better… More from Claudia'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