Update on Omar EnriqueThank you for supporting Omar, who, with his Kiva loan, was able to invest in the purchase of personal products (deodorants, talcs, etc.) and hair products (shampoo, tints, conditioners, dyes, etc.) With this investment, he was able to increase his working capital to be able to stock his business with more products, expanding certain lines, bringing in more sales, and growing his business. With this progress, he has been able to continue supporting his children. Currently, he is requesting a new loan to invest in beauty products, personal products, and hair products. Omar tells his lenders: "Thanks to Kiva, I have been able to strengthen my business."
Previous Loan DetailsOmar used his previous loan to buy medicine, perfumery and cosmetics. His Kiva loan helped his business grow in that it made it possible for him to have inventory on hand and more variety of products and this led to an increase in sales. He’s currently applying for a new Kiva loan that will be… More from Omar Enrique'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