Update on Maria EsterWith her last Kiva loan Maria bought a cooler. She's happy because her products are very cold and delicious and she has more storage space in her fridge for her chica, drinks and sodas.
With her new loan she plans to buy ingredients in bulk to make chica and food, so that she can get discounts that will make her production costs go down. She is grateful to the Kiva lenders and hopes they keep supporting her because she's very interested in growing her business and generating more income.
Previous Loan DetailsMaría Blanquécet lives in Cartagena. She makes 'chicha' (a soft drink made from corn) and soft drinks in general. She also sells various merchandise and cylinders of gas which she provides to restaurants and housewives. María started out selling various merchandise such as clothes and costume ... More from Maria Ester'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