Update on Carmen MariaWith her prior Kiva loan Carmen bought rice, condiments, and other items. She achieved higher liquidity, and grew working capital and earnings. To her lenders she says, "Thank you for the support. I've come far in my business and my standard of living. Keep supporting me." Carmen is seeking a new loan with which she'll buy ingredients for her meals as well as sodas and other drinks wholesale and for cash. Her objective is to obtain inventory so she can sell more and improve her business.
Previous Loan DetailsThe need to generate income for the improved well-being of her home and the desire to work were what drove Carmen, a widowed woman, to start her business in 1973. She prepares and sells breakfast, lunch, and dinner meals. She offers this service at her business premises located next to her home... More from Carmen 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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