Update on MartaThank you for supporting Martha with her Kiva loan, which she invested in supplies, which she used to prepare delicious desserts that sold quite quickly. With this funding, she mobilized even more clients, and she has now been asked to direct her business to food sales. Through this, she is now obtaining new sources of income, and has been able to make improvements to her home.
To her lenders, she says, "Thank you for the loan, which has been very beneficial for me. I hope that you continue to support me." She is now applying for a new Kiva loan, which she will use to buy supplies such as rice, oil, dairy products, sugars, fats, etc. to increase her production of foods and desserts, taking advantage of the fact that the year is coming to an end and her sales will be even more greatly affected. The investment of her Kiva loan is successful, in that it comes while she is collecting money from her accounts receivable and giving immediate response to her demanding clientele.
Previous Loan DetailsMarta works selling cheese, cold meats, desserts, and cosmetics, though the catalogue of a business with which she is affiliated. This business offers her the catalogue and the products so that she can carry out her work promoting and selling. With her previous Kiva loan, she was able to buy a… More from Marta'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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