Update on ManuelThank you for supporting Manuel, who used his last Kiva loan to buy sacks that he sold at wholesale in the center of Barranquilla. This increased his profits and the loan was also enough for him to buy a cooler in order to increase his sales of drinks and soft drinks. Since he received his Kiva loan he has been supporting his family, since he has involved them in his two activities and they are generating incomes by helping him out. He is very happy about this. Manuel tells his Kiva lenders the following: 'Thank you so much for this loan and for the opportunity to make my business grow'.
He is now applying for a new Kiva loan, which he will use to buy sacks made out of synthetic thread and of fique, both of which are in high demand at his market, and he will also invest in soft drinks, an activity that generates incomes and complements the profits made from selling sacks. He is efficiently investing his Kiva loan.
En la actualidad está aplicando a un credikiva nuevamente, con el comprará sacos sintéticos y de fique, los cuales tienen mucha demanda en su mercado y también invertirá en la compra de refrescos, tarea que genera ingresos y complementa sus ganancias obtenidas por la venta de sacos, haciendo de su credikiva una efectiva inversión.
Previous Loan DetailsManuel is 39 years old and owns a business in the center of the city, in a very commercial area. He buys and sells sacks, a type of bag that can be made out of fique or synthetic thread. It is very useful for packing. He came to Barranquilla, forced by the violence in the countryside. Looking ... More from Manuel'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