Update on MayerlinThank you for supporting Mayerlin in her commercial activity. Since receiving her Kiva loan her business has improved noticeably. Thanks to the sales she was able to have her life improved and this is very good for her. She’s currently applying for a Kiva loan to buy clothes, perfume and other items for end of year sales. Her investment will be successful because she’s making it in preparation for the year’s best commercial season and because it’s based on orders from customers that Mayerlin is always ready to satisfy.
Previous Loan DetailsWith the previous Kiva loan, Mayerlin purchased cosmetics, hair products and items that arrive with discounts from her catalogs. This purchase allowed her to fill her customers' orders and she is now very excited to be obtaining another Kiva loan. She will buy cosmetics, and jewelry, as she has… More from Mayerlin'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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