Update on Yan CarlosYan, who is 26 years old, is very satisfied with his last Kiva loan because he was able to buy raw materials, like lubricant and work tools, with which he improved the efficacy of his tire shop. Now he offers better service and more competitive prices.
Right now he is applying for a new Kiva loan with which he will buy tools and lubricant at a higher volume, to be able to get better prices and to continue giving good service, and finally to be able to earn more. His message to the Kiva lenders is the following: “Thank you for all the help and your unconditional collaboration with small businessmen like me, who want to keep growing and contributing to the economy of my country, Colombia. I wish you blessings and happiness from the bottom of my heart.”
Previous Loan DetailsYan Carlos U. is married and has a two year old child. He lives in the Blas de Lezo neighborhood in the city of Cartagena. He has a tire shop, El Yanky. It has been the source of income for his household since before he was married, when he supported his mother. It is even more so now in the ... More from Yan Carlos'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