Update on CandelariaCandelaria is very happy with her previous investment in products from a Kiva loan. It went very well for her. She was able to stock her business with stationery, informal shoes, hats, and home items that generated her a greater income. Her home conditions improved. She also used her income to buy a new display case where she has organized all her merchandise. She sends a message to the Kiva lenders asking them to "continue supporting this cause and the development of communities". She is now applying for a new loan with which she will buy typical gift items for mothers; the wonderful and commercial Mothers' Day is coming up and she needs to have everything that mothers need, such as cosmetics, clothing, shoes, women's accessories, and electronics. With this investment, her sales will be very successful. It is opportune that she is taking out this loan in one of the most commercial seasons in her municipality.
Previous Loan DetailsCandelaria is 31 years old, lives with her 18 month old son, in the municipality of Soledad, 15 minutes away from the city of Barranquilla. She has a business with which she generates the main income to support her home and she dreams with growing it to increase the well being of her family and ... More from Candelaria'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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- Repayment Term
- 27 months (Additional Information)
- Repayment Schedule
- Apr 30, 2013
- May 17, 2013
- Currency Exchange Loss:
- Jun 21, 2015
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.