Update on Jorge AlbertoThank you for your support of Jorge, who with the help of his last Kiva loan was able to buy natural products such as Omnilife, Ganocafé, and Oxígeno Líquido, as well as clothing and footwear that his customers were asking for. With this investment he was able to increase his inventory, his sales and his profits. This enabled him to grow his business in these aspects as well as in the number of customers he serves. This helped to improve his family's well-being.
He is currently seeking a new loan in order to continue to invest in his natural products, as well as in clothing and footwear which his clients have requested. His goal is to continue to build his inventory. He wishes to say to those who fund his loans: "I am very grateful to Kiva and to Fundación Mario Santo Domingo, since I have made a great deal of progress in my business and in my family income."
Previous Loan DetailsJorge bought natural products with his Kiva loan, such as vitamins and varied merchandise with which he responded to the customers according to their orders and with this he increased his sales volume. Right now, he is asking for a Kiva loan with thich he will buy natural medicinal products and… More from Jorge Alberto'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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