Update on YolandaThank you for helping Yolanda. With her Kiva loan she was able to purchase fabric and design clothing for woman and infants and increase her working capital. She also gained more clients and increased her profits. Her business has strengthened and Yolanda is very happy she can rely on assistance from Kiva and the Mario Santo Domingo Foundation. She has the following message for the donors: "I am very thankful for these loans which help improve my life." Currently she is applying for a Kiva loan with which she will purchase fabric to produce ladies wear in time for the busiest shopping season, starting with Mother's Day on the first Sunday in May. Yolanda needs to have a full inventory of dresses in order to respond to the needs, wishes, and interests of mothers and anyone who offers loving gifts to a wonderful being such as a mother or whoever represents this noble task.
Previous Loan DetailsYolanda used her previous Kiva loan to take advantage of the second half of 2010, when most clothing sales take place. Her sales increased significantly. Since she gained some customers with for this clothing business, she will once again invest in fabrics to make clothing in large quantity.… More from Yolanda'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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