Update on Freddy RaulThank you for supporting Freddy, who bought materials to make doors and windows with his previous loan. He is currently applying for a Kiva loan to by tools such as drills and materials to have products in stock, making an impact on his clientele with new designs.
Freddy sends his lenders the following message: "I am very grateful for the loans and I hope to continue counting on this support. I hope that when I need a higher amount you can help me."
Previous Loan DetailsFreddy M. is renewing his loan, which is the third that he has had with the Fundación Mario Santo Domingo, but that is his second Kiva loan. With this loan he will buy windowpanes of different sizes in order to have business and to be able to service his clients punctually. This investment will… More from Freddy Raul'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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