Update on Rosa IsabelRosa used her previous Kiva loan to buy a new, large display case, varied merchandise to stock it with and much raw materials and supplies. She’s currently applying for a new Kiva loan to buy materials like fabric and decorations to manufacture new designs of purses to increase her supply of products to sell.
Rosa sends the following message to Kiva lenders: “I am happy and satisfied with he support Fundación Mario Santo Domingo has given me to be able to grow and have economic support for my family.”
Previous Loan DetailsRosa L. is married and has three children whose ages range from 21 to 36 years. She makes hand-made crafts that she sells in her own general store. She began these activities based on her own creativity and self-taught skills in the area and the marketplace. Rosa is a very intelligent woman wh... More from Rosa Isabel'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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