Update on Uriel EnriqueThank you for supporting Uriel in his wholesale and retail price clothes sales business. With his previous Kiva loan he was able to buy cloth and jeans and he made trousers. His Kiva loan helped him to increase the working capital, sales and profits of his business. He says of Kiva investors: "I am very grateful to Kiva and the Mario Santo Domingo Foundation, I hope they will continue to help me."
He is currently applying for a Kiva loan, the first funding he applies for with the Mario Santo Domingo Foundation, which he will again use to buy, at wholesale and cash prices, cloth and other supplies to make jeans, because this is a fixed market and the season of high demand is approaching. Uriel must get stock ready for this season, which will make it a very successful one.
Previous Loan DetailsWith his loan from Kiva, Uriel bought fabric wholesale with cash to make and sell clothing, especially jeans and sports shirts. He was very happy with his Kiva loan because it increased his working capital a little, and this gave him enthusiasm to continue with his intention to grow. Now he is... More from Uriel Enrique'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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