Update on YolbinThank you for supporting Yolbin, who used her Kiva loan to buy a lot of merchandise, especially clothing and footwear, which was promoted via her catalogue. With her Kiva loan she was able to have a larger working capital and sold via the pre-payment method. Her business now has more customers and she was able to extend the time she gives her customers to pay. Now she has a better income, so she can carry on improving her quality of life.
Currently Yolbin is asking for a Kiva loan which she will use to buy clothing which has been ordered and will be able to meet the seasonal orders. These normally impact positively on her sales, making her Kiva loan a successful investment. She says to her lenders:" Thank you for providing these benefits, the loan has been the essential key to improving my quality of life".
Previous Loan DetailsYolbin used her last loan to purchase products for her store such as shoes and sweets, and she also bought cosmetics and perfumes that she sells from specialized guides or by catalogs at a good price. Currently she is applying for a new Kiva loan to purchase more shoes and to make packets of swe... More from Yolbin'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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