Update on Francia InesWith her previous Kiva loan, Francia was able to make improvements to her business and buy varied merchandise which she sold; it went very well for her. She is now requesting her second Kiva loan with which she will buy Christmas and New Year's items, such as wrapping paper, home accessories, etc. She would like to tell Kiva lenders: "I thank you for your support for all these businesses; we are trying to get ahead for our families, to generate an income and well-being."
Previous Loan DetailsIn 2006, Francia Inés P., 34 years old, quit her job at a company because she was not making enough to improve her standard of living. She then started her story as an entrepreneur when she decidedly began her business selling miscellaneous merchandise, renting out a house belonging to a relative... More from Francia Ines'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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Success!! The loan was 100% repaid