Update on AdaliciaThanks to the support she received with her Kiva loan, Adalicia was able to buy construction materials for remodeling her home. This investment resulted in a better quality of life for her family. Her business is growing even though her husband was injured in an accident.
Adalicia is currently applying for a new loan so that she can invest in perfumes and beauty products to increase her inventory. She says to the Kiva lenders, “Thank you for the support I received and the benefit of this loan.”
Previous Loan DetailsAdalicia leveraged support from her previous loan to purchase raw materials for sewing and completing customer orders for school uniforms and other items at her sewing business. She was also able to use part of the loan to purchase a small glass showcase for her business. Adalicia is happy to be… More from Adalicia'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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