Update on RocioThanks you for backing Roció, who used her previous Kiva loan to buy fabric, buttons, sheepskin, and thread in quantity. Her production increased and her sales and quality of life improved. She says to the Kiva lenders, “Thank you for the support,” and asks that you continue helping small businesses. Currently she is asking for a new Kiva loan, which she will use to buy supplies and raw materials so she can prepare for the end of year season, when her sales increase, so she will have money with which to increase her production and improve her quality of life.
Previous Loan DetailsRocío used her previous loan from Fundación Mario Santo Domingo to buy buttons, zippers, lace, and other supplies. With these she made nice products which she sold and earned a little more. She is very grateful to the organization and says, “The loan came at the right time and was really useful.… More from Rocio'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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