Update on Yuly MaritzaThanks to the support given to Yuli's college, Yuli made improvements to the school and improved the floor with the last loan from Kiva. The students are more comfortable and the appearance of the institution is much better. She is very pleased and asks that you continue to support people who have their own businesses.
Yuli is now requesting a new loan from Kiva She will use it to purchase more construction materials and take advantage of the vacations to make improvements on the deck, ceiling and walls to offer a more secure and comfortable environment for her students.
Previous Loan DetailsYuly is 31 and lives with her husband and small 4-year-old daughter in a metropolitan area of Malambo. For ten years, with her maternal nature she worked in a small preschool run by her sister-in-law and gained a lot of experience. When she moved to Malambo, she observed that the children did no... More from Yuly Maritza'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!