Update on Viviana EstherThank you for helping Viviana, who was able to buy footwear wholesale and thus grow her business substantially thanks to a previous Kiva loan. When she received her loan, her business changed, as she was able to purchase high turnover items, thus improving her life. Viviana tells her Kiva lenders : "thank you for helping people whose incomes are low". At this time, she needs to purchase stationery, school supplies, lingerie and electrical appliances to meet customer demand, as customers have already placed their orders. This is the reason that she is asking for another Kiva loan; based on her experience, if she is able to meet customer demand, she believes that this investment will be successful.
Previous Loan DetailsFrom Barranquilla by birth and with a beautiful 9 year old daughter, for the last year she has sold merchandise like footwear, cosmetics, home appliances, toys, paper goods and school supplies. She has another income producing activity: providing pedicure, manicure and haircut services. She has… More from Viviana Esther'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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