Update on Nevys JohannaThank you for supporting Nevys with her grocery store. She was able to buy rice, sugar, coffee, cold meats and vegetables with the loan, to increase her stock and to cover 90% of her clients' demand. Having increased her sales, she has also improved her quality of life.
She is grateful to Kiva lenders for this and asks them to keep supporting microentrepreneurs to meet their goals. She is now applying for a new loan to be used in the purchase of food, communal meals, soft drinks, meat, etc. so that she can increase her stock and respond to the higher stock rotation in December, the most relevant time of year for her business.
Previous Loan DetailsThanks for supporting Nevys who purchased provisions such as rice, sugar, whole cane sugar, pasta, soft drinks, dairy products, etc. with her Kiva loan. Her sales increased because she was able to offer good value to her customers. Now her business has a wider range of products resulting in her… More from Nevys Johanna'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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