Update on GladysThank you for supporting Gladys in her crafting business. With her previous loan on Kiva, she purchased more materials, increased her production, and decided to change her location. She would like to tell her investors that she is very grateful because her loan arrived at the most opportune time. She is currently applying for a new loan. This time, she will buy sewing materials and finishing materials for linens. With this investment, she will offer new products and will really stand out to her clientele--she is sure her customer base will grow.
Previous Loan DetailsWhen she got her first Kiva loan, Gladys bought frames to make paintings and materials with which she made many other products. She also paid her suppliers and was ready to invest again. For this reason, currently she is planning another Kiva loan, with which she will buy raw materials to make ... More from Gladys'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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Success!! The loan was 100% repaid