Update on Yulieth PatriciaThank you for supporting Yulieth. With her previous Kiva loan, Yulieth bought a shop window and stocked it with facial products and perfume. This investment has generated good profits for her. Thanks to this, she was able to make adjustments to her home and improve it. Today she is applying for a new Kiva loan. She will use the loan to buy linen articles, such as sheets and towels because they are essential home products that have a higher turnover. This generates sales with a shorter display time. Yulieth says to her financial backers: “Thank you for your generous support and confidence.“
Previous Loan DetailsYulieth is 27 years old and lives with her husband, her 3-year-old son and 5-year-old daughter in the town of Soledad, a town on the Caribbean coast of Colombia. She has a business whereby she sells perfume and merchandise by catalogue to neighbours and friends in her neighbourhood, going door to… More from Yulieth Patricia'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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