Update on Jenny FernandaJenny used her previous Kiva loan to purchase a laptop computer to improve her microbusiness, and she was indeed able to increase productivity. Her business took an important turn with the loan: she opened a shop to display her merchandise inventory, and that allowed her products to be very well received in her area.
Jenny tells her financers: “Thank you to the people of Kiva for enabling me to improve my business." She is currently applying for a new Kiva loan, which she will use to purchase assorted merchandise like toys, toiletries, and other items. This investment will allow her to stock her business much further and better.
Jenny dice a sus financiadores: “Gracias a la gente de Kiva por permitirme mejorara mi negocio. “ En la actualidad está aplicando a un nuevo credikiva, mediante el cual comprará mercancía variada, como juguetería, artículos de tocador entre otros. Con esta inversión surtirá mucho mas y mejor su negocio.
Previous Loan DetailsJenny R. P. is a 25 year-old woman who learned from her mother how to be independent and make income for herself and for her personal growth. It was her mother's example that Jenny observed during her childhood that spurred her, in 2008, to start earning her own money and become self-sufficient,... More from Jenny Fernanda'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