Update on Karina GreyThank you for supporting Karina. She used her Kiva loan to buy women’s clothes, shoes, accessories, and beauty products. Karina is very happy. Through her investment she managed to have a lot of inventory. This way she is improving her level of sales. Her business has increased, as has her family’s well-being. What this means is success for Kiva.
She is currently applying for a new loan. She will use the loan to buy baby clothes, beauty products, and women’s dresses that her customers have ordered. Her exact goal is to make this new investment become very successful.
En la actualidad está aplicando a un nuevo finaciamiento mediante el cual comprará ropa infantil, productos de belleza y vestidos para damas que le han encargado sus clientes y su meta es justamente hacer que su nueva inversión sea muy exitosa.
Previous Loan DetailsUsing a small amount of money which a friend of her mother lent her, Karina started her business selling clothes three years ago, as she was still very young, but very keen to get ahead. This is proved by the fact that she finished her high school studies at the same time as strengthening the… More from Karina Grey'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