Update on Nora MercedesThank yo for supporting Nora with the loan because she was able to offer new products and debut at some events she was hired for. This was thanks to her Kiva loan, which was used to buy materials and ingredients. She used them so that the guests at first communions, quinceaneras, graduations, etc. were able to enjoy the delicious products that she prepares. Right now, she is very enthusiastic and applying for a new Kiva loan with which she will use to buy products to make snacks such as flour, cheese, dairy products, etc. She has contracts with institutions. Since she also distributes beauty products, part of the loan will be used to buy cosmetics, perfume, etc. Her message to all of the lenders is: thank you very much for the loans she has received.
Previous Loan DetailsNora is 53 years old. She is an enterprising woman who lives in the town of San Jacinto, departament of Bolívar. She has 4 children, aged 33, 26, 22 and 19. The two youngest are on their own and work. Nora sells special food for events in her town, such as salads, meat rolls, pork, and rolled… More from Nora Mercedes'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
- Repayment Term
- 20 months (Additional Information)
- Repayment Schedule
- Jun 14, 2013
- Jun 25, 2013
- Currency Exchange Loss:
- Jul 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.