Update on LuzThanks for supporting Luz, since she was able to use her Kiva loan to purchase materials, supplies, and a variety of merchandise, which she used to increase her sales and grow her profits. Since she received her Kiva loan, she has had more liquidity and her working capital has increased since she has sold a lot of already made merchandise. Luz says to her lenders: "Thank you for supporting me in my work. God will continue to bless you."
Currently, Luz is requesting a new loan to purchase baby items, clothing, shoes, toys, cologne, and two display cases. Her investment will be successful because she has a set customer base and she is located on a street with pedestrian and vehicular traffic, which are all potential sales.
Previous Loan DetailsElena was satisfied with the investment she made using the funds from her last Kiva loan, since she was able to increase her production of clothing and accessories for babies, and thus achieve greater profits. She is currently seeking a new loan through Kiva. She will use the funds to purchas... More from Luz'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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