Update on Dona MaríaThank you for supporting Dona, who used her CrediKiva loan to buy merchandise that she sold quickly. Her customers were very happy with their new shirts, pants and bedspreads. She is now requesting a new loan to buy small domestic appliances, such as fans and irons, and clothing such as sweaters, jeans, etc. She will sell them on credit and collect payment weekly.
She will sell the goods based on customer orders so her investment will be successful. She sends a message to all Kiva lenders that says: "I am grateful for your loan, which is very comfortable and easy to pay back. I ask that you continue to loan to many borrowers."
Previous Loan DetailsWith her previous Kiva loan, Dona bought men's sweaters, women's jeans, and bedspreads, and they sold quickly. With that her business capital increased and now she is asking for a new Kiva loan which she will use to purchase small appliances, casual women's clothing and athletic wear, among other… More from Dona María'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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