Update on EdgardoThank you for helping Edgardo who with his previous Kiva loan bought cement, black and white granite, sand, cal and other materials to make laundry sinks which he sold whenever the opportunity arose. He increased production allowing him to provide his family with a better standard of living.
Once again Edgardo is hoping to make more sinks and thus increase sales and income. He will now make them for new builders who, once they see the sinks, will be impressed and give him a good reference.
He says, "Thank you, Kiva donors, for allowing me to grow my business."
Previous Loan DetailsEdgardo is 45 years old and lives with his spouse and his two children in the town of Soledad, where he makes washbasins out of granite in a space near his home. He sells them to neighbours, family members, and through referrals. They constitute they main customer base, but he also sells his… More from Edgardo'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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