Update on Albert AntonioThank you for supporting Albert who, with his last Kiva loan, bought polystyrene, balloons, party bags and other children's items. His business is better stocked and, with more inventory, he has been able to sell much more. Albert is asking Kiva lenders to "continue supporting [him] because he needs to expand his business much more". He is currently applying for a Kiva loan in order to buy sweaters, balloons, bags and more and he plans to have a lot of success as these are the products he sells most and turnaround on such stock is very quick. This will make his Kiva loan a good investment.
Previous Loan DetailsWith his new printing machine Albert started printing on mugs. He’s offering better products of unsurpassed quality and all of this was made possible by his Kiva loan. He’s currently applying for a new loan to buy a machine to make buttons that are in very high demand for birthdays and by f... More from Albert Antonio'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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