Update on Carmen ElenaThank you for supporting Carmen, who with her previous Kiva loan bought a freezer and food supplies that made her business grow. Her business is better stocked, sells more, earns more and has more customers and better appearance. Since she began selling soft drinks, the soft drink provider gave her a fridge and now she has increased her sales since she has a larger stock.
She sends the following message to her lenders: "Dear Funders: thanks you for supporting my business and I hope you continue to support me so that I can be thankful throughout all my life." She is currently applying to a new Kiva loan with which she will buy a refrigerated shop window so that she can have all of her dairy products - which she will also buy with the loan - on display.
This investment will be successful because she will stock more products in better condition, since her current shop window is not working well. She needs a good refrigerated storage unit so that her products rotate more frequently.
Previous Loan DetailsCarmen Elena, who is 62 years old, lives in the town of Soledad with her husband. They have two daughters, ages 43 and 29. She located a store in a space in her home. There she sells products for daily use, in small quantities, to the families of her community, in accordance with her capacity to ... More from Carmen Elena'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