Update on MiriamThanks to the support Miriam received with a Kiva loan, she was able to buy bed sheets, towels, trousers, and general merchandise. Her previous Kiva loan enabled her to increase her earnings, as well as strengthen her operating capital and her clientele.
She is currently applying for another Kiva loan so that she can buy clothes, shoes, lingerie, and women's accessories. Her investment plan will be successful because she will approach customers who work as employees since she usually has productive negotiations with them.
Miriam appreciates her Kiva lenders and asks that they continue to support the micro-enterprise sector and people like her who want to grow.
Previous Loan DetailsMiriam, 56, is the mother of five children aged between 20 and 35. She’s a widow and has succeeded in generating income to support her home by means of her business. She sells varied merchandise via specialized catalogues, a business she started 20 years ago with help from a girlfriend who star... More from Miriam'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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This loan has been fully funded!
- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Oct 28, 2013
- Nov 21, 2013
- Currency Exchange Loss:
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.