Update on Zoila RosaThank you for supporting Zoila, who with her previous loan on Kiva purchased materials such as flour, cheese, salt, oils, and eggs in larger quantities. She was able to get a discount on these purchases and increase production. Zoila says to the lenders: "Thank you for working with me. I was able to achieve my goals because of the rate I got with the loan." She is now applying for a new loan with which she will purchase materials to increase her production again, such as flour, oils, and dairy products. With these ingredients, she will prepare cakes and bread for mothers' day. These items have been pre-ordered.
Previous Loan DetailsZoila, age 24, was raised by her mother with much responsibility and the moral values that have defined her life. Upon becoming motherless she saw how her mother got them ahead and led her to obtain her degree in mathematics. Zoila married her fiancé in the year 2009. He has a degree in… More from Zoila 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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- May 10, 2013
- May 17, 2013
- Currency Exchange Loss:
- Apr 19, 2014
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.