Update on Porfirio AntonioPorfirio needs again a Kiva loan, because it is the source of cash which he uses to build up his working capital and with it his productivity, especially in this period when his products have a high turnover. He did very well with his previous loan and even managed to reinvest his profit. His business continues to expand step by step and he is very proud of his work. Porfirio has this message for the Kiva lenders: "Thank you very much for the financial support." He managed to increase his working capital; his liquidity and his sales are growing steadily. Thanks to his improved well-being and the help from his family, he currently plans to buy his home and this makes him very happy.
Previous Loan DetailsPorfirio is very happy because with his Kiva loan he was able to increase production of salchipapas (a traditional fast food consisting of sausages and french fries) and hamburgers. He has been encouraged and as he needs some funds to purchase ingredients and products to respond to client demand,... More from Porfirio Antonio'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