Update on Karen MariaThanks for supporting Karen in her commercial activity. With her Kiva loan (credikiva) she bought women's clothing, steel and Murano crystal things, which were very important to satisfy the taste and needs of her customers. The amount of the loan was significant. Her stocks gave an elegant image to her business and she has reinvested her earnings in it. Therefore, Karen has now more customers and the best part is that she has continued with her studies because she dreams of finishing her professional career to generate much more income. She sends the following message to the lenders: "I am very grateful and hope that we keep counting with your support to move my business forward by getting more diverse products". Currently Karen is requesting a credikiva loan with which she will buy jeans and sweaters for women, men and children. For this she will travel to the city of Medellin, where the industry has a big supply of high quality clothes, and additionally she will enjoy landscapes of green mountains and the most beautiful orchids of the world.
Previous Loan DetailsKaren is a young woman, just 18 years old, who lives in the city of Barranquilla in the department of Atlántico. She lives with her parents in this city, also known nationally as “la arenosa” (the Sandy City). Her business activity is the buying and selling of products like perfumes, deodorants... More from Karen 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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