Update on HermelindaThanks to the support she received for her food business, Hermelinda was able to invest her Kiva loan in a large amount of supplies. She was able to increase her production of stews and rice. Hermelinda was also able to begin selling different types of merchandise and distributing them to her new customers. This resulted in a new source of income that benefited her family. Her business now has a large number of buyers and the profits have enabled her to continue helping her children. She sends the following message to the Kiva lenders: “Thank you for supporting my work because this is my livelihood and how I support myself. I’m also grateful for the many years that I have been with Fundación Mario Santo Domingo.”
Hermelinda is currently applying for a new Kiva loan so that she can buy a few tables and plastic chairs for furnishing her home. As a result of her dynamic work and discipline, her Kiva loan will be a successful investment.
Previous Loan DetailsHermelinda, 59, works in merchandise sales complemented with the sales of chicken-flavored rice, two business units that she began more than 30 years ago when she moved to the city of Barranquilla, where she lives now. She now has two sons and two daughters, all of them between 17 and 31 years… More from Hermelinda'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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