Update on MariaMaria is a seamstress who has been supported by Kiva loans. She has invested in fabric and decorative accessories, with which she has sewn products that her clients requested, leaving them very satisfied. With this support, her business has grown and her children have achieved professional education.
Currently, she is applying for a loan, which she will use by spending 80% of the loan on fabric and the remaining 20% on accessories. The season for rolling out new marketing plans is approaching, and sales usually increase, which will make her loan successful.
She would like to send a message to Kiva lenders: "Many blessings and please continue supporting Colombian business owners."
Previous Loan DetailsMaría bought accessories like fabric in larger amounts, zippers, lace, decorations and thread and she feels very satisfied with them. She’s also excited because she increased her sales potential and got discounts for cash purchases. She’s currently getting her creativity ready to receive end-of... More from Maria'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!