Update on ZoraidaThank you for supporting Zoraida in her business of making women's clothing, because with her previous Kiva loan, she succeeded in buying an industrial sewing machine and raw material in bulk and in cash; and began improvements on her building and her working capital. Her productivity improved along with the quality of her products, and therefore so did her business's profits and her earnings.
She says to her financial backers: "Thank you very much for this support; my business has grown and so have my profits. I hope to continue receiving it."
Currently, she is again applying for a Kiva loan, with which she will purchase an industrial overlock sewing machine, an embroiderer, and raw material and supplies like fabric, thread and adornments. The success of this loan rests on the fact that with the overlock sewing machine and the embroiderer, the quality of her garments will increase, as they will be more finished. With the raw materials and supplies, her production will increase, and with this alone, she will sell much more.
Ella dice a sus finaciadores: "Muchas gracias, por ese apoyo , mi negocio ha crecido y las utilidades tambien, espero seguir recibiendolo. "
En la actualidad está aplicando a un credikiva nuevamente, mediante el cual comprará una fileteadora industrial, una bordadora y materias primas e inusmos como telas hilos adornos. El éxito de esta inversión cosnsiste en que con la fileteadora y la bordadora, aumentará la calidad de las prendas, pues tendran un mejor terminado y con las materias primas e insumos aumentará su producción y esto por si solo vende mucho mas.
Previous Loan DetailsZoraida is 60 years old, and has made a living sewing women's clothing since 1990. She spent time studying dressmaking, and eventually started up her own business, which has grown little by little over the years as she has expanded her customer base. In her business, Zoraida sews all kinds of gar... More from Zoraida'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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