Update on ArcelisArcelis was helped by Kiva in her sewing and cheese selling businesses. She has many more customers because with the raw materials she bought (fabric, thread, etc.) she was able to do work she had on order and fill her customers' cheese orders, which are additional income. Arcelis tells Kiva that with its help in he activities, a lot more customers know about her business now and with the profits she is finishing her home little by little so she can live comfortably. Right now she is applying for a new loan with which she will in vest in cheese and pork. She also will not abandon her work repairing clothing and that is why she will also invest in sewing materials.
Previous Loan DetailsArcelis, 39, lives in Barranquilla, a Colombian coastal city. She has two businesses: a clothes making shop and she sells cheese. She took a sewing course six years ago in a local public school and she and her husband took out a loan that she used to buy a sewing machine. This is how she start... More from Arcelis'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