Update on LilibethThanks for supporting Lilibeth who used her CrediKiva loan to invest in her business, buying clothing, sandals and natural products which increased her sales. Now she has new clients and more profits. She is currently taking orders to fill with new merchandise for Mother's Days and there is more customer demand.
This is why she is requesting a new CrediKiva loan to buy women's lingerie, shoes and cosmetic products in large quantities at discount prices. This will give her more negotiating leverage and the ability to turn around orders quickly, before other merchants can. This is why her CrediKiva loan is successful.
Previous Loan DetailsLilibeth is 29 years old and she sells clothing, skin products, and natural medicines. She has her business in her own home, where she lives with her husband and their 6-year old son. She started out her business 10 years ago, having learned from her mother. At that time she had her business in S... More from Lilibeth'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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