Update on Maria ElenaThank you for supporting Maria. With her Kiva loan she bought a photocopier and her sales increased immediately because her clients were pleased with the service and returned. Because her income increased, she was able to renovate her home. This left her feeling very satisfied. Today she says to her financial backers: “I am very thankful and I wish you and your families the very best."
She is currently applying for a new loan that will be used to upgrade her business' facilities to create a more comfortable atmosphere. This way she will attract customers and will make her investment successful.
Previous Loan DetailsMaria Elena R. is a very active youth who lives in Puerto Colombia, a municipality on the edge of the ocean. There she has a miscellaneous business called Variedades Loma de Oro. She is married and has a 2-year-old child. She started her business two years ago with a small metal cabinet in which ... More from Maria Elena'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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