Update on ArmandoThank you for supporting Armando in his cabinet-making. With your Kiva credit, he has been able to buy wood, paint and glue. His production was increased with the increment of raw materials, and he responded to the demand for decorated wood items.
Armando's business has grown, and as a result, has been contracted to provide cabinet-making services in churches and schools. He says to his financers, "Thank you for your support and help," as they allowed him to strengthen his business.
He is currently using a Kiva loan, through which he will buy a belt sander, which will help him work faster and finish better, which in turn will guarantee him well-attended and satisfied clients.
Previous Loan DetailsArmando’s a versatile man; he studied Textile Design and has two businesses: a wood working shop which is his main income producer and that’s a family tradition because his parents also worked in this same occupation and he also has a snack bar where he sells soft-drinks and snacks and that his… More from Armando'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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