Update on JeimiThanks for supporting Jeimy, who used her previous microloan on her general store and succeeded in expanding her inventory and offering new and diversified products, such as pork and dairy products, as well as cell phones, perfumes, and cosmetics, ladies' underwear, and baby clothes. Her business has grown and she is making more money for her household. She says to her Kiva lenders, she is "Thankful for the support of the business." She is now applying again for a microloan, with which she will buy clothing, perfumes, and cosmetics, since one of the commercial times of the year which is most important is coming up, which is the internationally recognized Mother's Day. And this is precisely what will make her loan a successful investment and will make the mothers of her customers the most happy because they will get just what they need.
Previous Loan DetailsJeimy is 28 years old and is the owner of a general store located in the southeastern part of the city. Here she sells beauty products like shampoo, protective hair creams, infant clothing, paper products and female accessories. In this same place she has added ice cream and beverage sales with w... More from Jeimi'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Apr 18, 2013
- Apr 19, 2013
- Currency Exchange Loss:
- Apr 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.