Update on Mirly IsabelThank you for supporting Mirly in her purse and backpack business. With the previous loan she was able to add more products to her inventory and sell them. She bought accessories and supplies to make backpacks and purses and this helped her increase production, and with the increase in income she was able to improve her living conditions.
She is now seeking a new loan that she will use to purchase supplies such as thread and fabric. She will also use the loan money for her other business - she sells refreshments and beverages. This is why she will use some of the loan money to buy beer. She will take advantage of the upcoming national holidays to sell the beer and increase her income.
She wants to say to the Kiva lenders, "I am very thankful and I hope you will invest in me again."
Previous Loan DetailsMIrly works making and selling crafts like backpacks, purses, cases and accessories. She started her enterprising alternative when still very young because it’s tradition among women in her native San Jacinto and with it she’s managed to support and school her children who are now 14, 17 and 21 ... More from Mirly Isabel'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
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Aug 9, 2013
- Sep 7, 2013
- Currency Exchange Loss:
- Oct 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.