Update on José ReguloThank you for supporting José with his business selling clothes, oil, soap, pastas and items for the home. With this support he has been able to generate an income and pay off some of his debts. With more stock he consequently has more customers. José thanks Kiva lenders and asks that they continue to support him so that he can realise his dreams, such as of having a large store in a shopping centre. José is currently applying for a new Kiva loan. He will use it to buy clothes and other items including supplies such as rice and pastas. Once again, José hopes to have more stock on order to continue impressing his customers and for his Kiva loan to be very successful.
Previous Loan DetailsJosé is 24 years old and lives with his spouse in the city of Soledad, where he earns his living selling clothing, beauty products, and basic provisions. He has been in this business for three years; he has been very familiar with this business since he was little because his mother also sold cos... More from José Regulo'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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