Update on ElviraElvira tells her Kiva lenders "thank you for providing this help to me and my business." When she previously applied for a Kiva loan, she was able to buy an industrial machine, which has improved her quality and production time. She stopped manually making buttonholes and now uses the machine to make them. Currently, she is applying for another Kiva loan to buy raw materials and supplies because Mother's Day is coming up. This season is largely commercial so Elvira needs to e prepared with products to surprise her customers, and so that mothers of her friends can be dressed elegantly with clothing made in her studio.
Previous Loan DetailsElvira, 53, lives with her spouse in the city of Barranquilla and has four children whose ages range from 13 to 32. She owns a sewing workshop that she started twenty years ago with a simple sewing machine she remembers having bought on credit for five-hundred thousand Colombian pesos.… More from Elvira'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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