Update on Ledis EstherLedis gives thanks for the support in her craft business, because with her Kiva loan she was able to purchase supplies. With the supplies she made beautiful figures in foam, with which she increased her own income as well as her family's. She tells her Kiva lenders, "Many thanks to Kiva and to Fundación Mario Santo Domingo, and I ask for your continued support". She's currently applying for a new loan which she'll use to purchase supplies for foam crafts and an assortment of merchandise for the upcoming school season, such as notebooks, pencils, ballpoint pens, cardboard, glue, crayons, temperas, etc. That way she'll improve her service towards her customers and make a little more profit.
Previous Loan DetailsEver since Ledis got her Kiva loan her business has increased in value; she has more orders, is teaching crafts classes and her sales have increased. She is currently applying for her Kiva loan that she’ll use to buy supplies to make foam crafts and to buy new tools that will help her polish her… More from Ledis Esther'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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