Update on MildredThank you for supporting Mildred, who with her previous loan succeeded in increasing the volume of her ingredient purchases and was able to sell more lunches. Mildred feels that now she is more economically solvent. She is also close to acquiring her own home, which also makes her very happy. She sends the following message to her financers: "Thank you for your interest in helping us, we are people who want to get ahead with our businesses." Currently, Mildred is working on a few new businesses, and with this new loan will buy meat products in order to use in the lunches she prepares. With the working capital provided from the loan, she will be able to invest in her businesses, and continue to get ahead through hard work.
Previous Loan DetailsMildred is 49 years old. She lives south-west of the city with her family, which consists of her spouse and four children (between the ages of 22 and 30). She has one business where she sells food and another where she distributes a variety of retail goods during special periods of time. These… More from Mildred'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
- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- May 24, 2013
- Jun 9, 2013
- Currency Exchange Loss:
- Apr 23, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.