Update on Minerva RosaMinerva is very grateful to Kiva and the Mario Santo Domingo foundation and hopes to continue growing. With her previous Kiva loan, Minerva improved her living conditions and now works much more comfortably. She currently has an appropriate working space but needs to buy an overlock sewing machine which will speed up her production process and allow her to take on more orders from customers. She will also be able to offer work to others who need it and this is exactly why her investment has been successful.
Previous Loan DetailsMinerva, 48, is the mother of three children whose ages range from 12 to 30. She’s owned a sewing business that operates at home for the last 18 years. Her business was born when she used to work as a domestic employee and learned from her employer during two years. When she got the opportunity,… More from Minerva Rosa'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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