Update on Lucinda MariaLucinda is very grateful for the support that she has received from her previous loan with Kiva. She was able to purchase supplies that allowed her to produce a higher volume of fast food and to purchase soft drinks in bulk that allowed her to increase her output and sales. She sent a thank-you message to Kiva lenders for their support and hopes to receive a new loan so that she can plan to buy school supplies for her seasonal business and primary materials, with which she will once again source food products. She can take advantage of the high season for sales for school supplies and fast food, making her Kiva loan a successful investment.
Previous Loan DetailsLucinda María H. lives with her husband and 3 children (between 28 and 33 years old) in the community of 20 de Julio in the city of Barranquilla--a place where formal and informal businesses interact with sports events at the Estadio Metropolitano (metropolitan stadium), site of the best soccer ... More from Lucinda 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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