Update on Rogelio AntonioRogelio operates a store for which he previously received a Kiva loan. He used that loan to buy flip-flops, cutlery sets, shirts, glasses, umbrellas and underwear. All of these items had been previously ordered by his customers, so he sold them very quickly. Rogelio’s previous loan helped him grow his business so that he can now better manage his inventory, respond more appropriately to his customers and increase his sales volume. He is also now able to buy inventory at good prices when opportunities arise – all, he says, thanks to Kiva.
Rogelio is now requesting a Kiva loan to buy items for the home such as small appliances that are customary gifts for Mother’s Day, which is his busiest time during the first half of the year.
Rogelio sends this message to Kiva lenders: “Your support is very important because with it I have been able to grow my business.”
Rogelio envía un mensaje a los financiadores de Kiva: “Su apoyo es muy importante ya que con este he podido hacer crecer mas mi negocio. “
Previous Loan DetailsWith his last Kiva loan, Rogelio bought goods such as flip-flops, sunglasses, men’s and women’s underwear, fabric, thread, sandals etc. which he sold to his customers and increased his profit margin. Now he is seeking a second loan to buy stock in large quantities so he has a wide range of items to… More from Rogelio Antonio'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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