Update on Josefina PatriciaThanks to her previous Kiva loan, Josefina was able to purchase varied merchandise for her general store, such as cooking oil, rice, plantains, and toilet paper. With these goods she was able to stock her business and her sales increased as a result. Josefina says to Kiva lenders: "Thanks for your collaboration and help, God bless you."
Currently, Josefina is applying for another Kiva loan, with which she will buy additional items to stock her store. She believes that this investment will be successful, because she will buy more of the products that sell the best, positively impacting her income.
Previous Loan DetailsJosefina and her husband, began selling empanadas and fried arepas in the neighborhood they lived in, but their incomes were only enough to cover their basic needs. For this reason, they took advantage of an offer made by a friend, to rent them a store located in the neighborhood next to the city… More from Josefina Patricia'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