Update on GregorioThank you for supporting Gregorio who with his Kiva loan was able to purchase wholesale beverages, beer, snacks, etc... in case. His working capital was abundant and improved his family's income as well as their standard of living.
His message to the funders is the following: "Thank you very much for the financial support, it has allowed me to progress and I hope that you will continue to help me." Currently, he is applying for a Kiva loan with which he will purchase beer, beverages and packaged foods in bulk and in cash, as well as a variety of merchandise for the end of the year season. Since it is a busy time for the type of business, it will have a great impact on the improvement of his income.
Previous Loan DetailsGregorio has a restaurant and tavern in the populous July 20th neighborhood. This area is surrounded by scenes of people playing soccer and other sports that are popular along the Costa Caribe. This is his third loan with Fundación Mario Santo Domingo and just his first through Kiva. Gregorio… More from Gregorio'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