Update on FranciaThank you for supporting Francia who used her previous CrediKiva loan to buy materials to make many crafts to stock her sales room. She is currently requesting a new loan to buy new craft products so she can increase sales. In other cities her relatives are also selling her products which are very popular in those markets, which have already placed orders.
She is very grateful for the support you have made through your loans and she hopes to continue working with these resources.
Previous Loan DetailsFrancia used her previous Kiva loan to buy supplies and materials she used to manufacture purses, hammocks and still had enough money to buy a display case. She’s currently applying for a new Kiva loan she’ll use to buy thread to make new hammocks and purses taking advantage of the soon to… More from Francia'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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