Update on Rosiris MargothThank you for supporting Rosiris, who was able to use her previous Kiva loan to increase the volume of her sales once again. She made beautiful new hammocks and backpacks, and she also bought a pig to fatten and sell by the pound.
Her Kiva loan was very successful because she increased her ability to buy new products and generate more earnings while selling at fair prices. She has been able to help her children with their studies, which makes her very happy.
She is very grateful because she has working capital, and she hopes to improve her home in the future. She is currently applying for a new loan to buy construction materials to make improvements to her home, especially in the areas affected by moisture, which are her greatest challenge.
Previous Loan DetailsRosiris, 42, had a previous loan from Kiva with which she bought materials to make her handicrafts and also invested in two live pigs, which she sold to support her son’s studies at the University of Barranquilla, a city two hours away from Cartagena. Today, Rosiris is preparing for a new Kiv... More from Rosiris Margoth'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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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