Update on MariaMaría has a business making and selling rolls. She was supported by Kiva in the past. It went very well for her because she was able to buy a mill, which facilitated her production process. She also worked more effectively.
Today María's business is more productive. She increased her sales and her income. This is why she says to her Kiva lenders: "Thanks to the Kiva people for allowing me to expand my business."
Currently she's applying for a new loan to buy an industrial stove and various implements to make her process even more productive. This is precisely the success of a Kiva loan.
Previous Loan DetailsMaria, who is 71 years old, lives in the municipality of Soledad. She is a widow who has 2 children, now aged 41 and 45. Aided by her daughter, she runs a business that was launched 22 years ago in a different municipality where Maria used to live. It is now located 15 minutes from her present r... More from Maria'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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