Update on VicentaThank you for supporting Vicenta with her Kiva loan that she used to buy raw materials and supplies to make food items like arepas [Colombian grilled corn cakes], turnovers and stuffed potatoes. With this investment her production increased, she produced more profits that she used to make home improvements. Her business is better stocked, she sells more and her life is much more tranquil.
She’s very happy and says to her Kiva lenders: “Thanks for supporting me in my business; I’ve been in this business for many years and I’d never done as well as I’m doing now.” At present, she’s applying for a new Kiva loan to buy a cooler, kitchen utensils and a new fryer. With this investment her road to success is becoming clearer each time.
Previous Loan DetailsBy selling fried food, hayaca (cornmeal, meat and vegetables wrapped in banana leaves), pies and cheese fingers, Vicenta has been generating her own income for 14 years. When she first started, she had just been forced to move from her home village; her son provided her with seed capital to buy a... More from Vicenta'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