Update on MarthaThank you for supporting Martha, who with her Kiva loan was able to buy a display case, cleaning products, grocery items such as rice, oil, flours, grains, pasta, cold cuts, chicken, sauces and general beverages for her store. This improved her stock to offer the customers better service. This has allowed her to increase her sales and her profit, bringing well being to her home. Right now, she is applying for a new loan to invest in buying grocery items, cleaning products, prepared meals and candy wholesale and paid for up front. This is to increase her working capital, sales volume and profits. Martha says to her lenders: “thank you very much for your financial support. I hope to keep counting on you to keep progressing."
Previous Loan DetailsMartha, age 38, lives with her husband and two children, ages 9 and 12. She is the proprietor of a store that sells snacks, groceries, and soft drinks. She undertook this business through her husband’s initiative. He worked at running a store. This experience paved their way to develop the... More from Martha'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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