Update on MariaThanks to the support from her Kiva loan, she could buy bags, necklaces and watches which her customers requested. With this investment, she could invest in more products which increase her revenue and profits. This allows her to improve her selection and the attention given to her customers. It’s also reflected in her well-being. She is currently applying for a new loan to continue investing in the purchase of bags since this is the product that sells the most in her business. María says to her lenders: “Thank you for the help and may you always continue to do this”.
Previous Loan DetailsMaria, age 46, has a small store where she sells a variety of merchandise that her customers buy at a good price. She has ten years of experience, and she knows her providers very well. She knows how to conduct win-win negotiations. The products that sell the most are bags, wallets, caps, be... More from Maria'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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