Update on Carlos AndresWith his previous loan from Kiva, Carlos bought materials such as resins, brooches, stamps and more, with which he made beautiful crafts. Currently he is seeking a loan with which he will buy a bottle of resin, spools of thread, and other decorative materials. His investment will be successful because he will be able to fulfill an order for 800 rosaries, 1500 keychains and 100 bracelets. His message to Kiva lenders is the following: "I thank you all very much because this loan has served me very well and has brought me income."
Previous Loan DetailsCarlos, 31, started working as an assistant at a crafts and manual arts micro business a little less than two years ago. A few months after starting, the owner of this business moved to Bogotá, the capital of Colombia, leaving him in charge of the business. Carlos took advantage of this to beco... More from Carlos Andres'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