Maria Del Rosario
Update on Maria Del RosarioMaria used her last Kiva loan to purchase fabric, trimming, buttons, needles, and other supplies. Thanks to this investment, her inventory, her production and the image of her business improved, which gave her a better quality of life. Her message of thanks to the lenders for their support is the first that Maria has expressed.
Today she is requesting a new Kiva loan to purchase fabric, buttons, and trimming, since she needs to increase her production to continue growing.
Previous Loan DetailsMaria is 60 years old and owns a fabric store. She has a workshop in her home in the town of Malambo. She learned this profession when she was young, and through making dresses for her friends she slowly built up experience and created her own customer base, until she turned this activity into a… More from Maria Del Rosario'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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- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Apr 15, 2014
- May 25, 2014
- Currency Exchange Loss:
- Nov 20, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.