Miriam Del Socorro
Update on Miriam Del SocorroMiryam used her previous Kiva loan to buy a hair washing sink and a barber’s chair with which she’s improved her beauty salon’s furnishing to provide better customer service.
She’s now applying for a new Kiva loan to buy an air conditioner, a display case and a table for manicures and pedicures because she intends later on to perfect her service still more expanding the customer service area and responding to the high demand from buyers of her products who have lately been asking for more brands.
Her message to Kiva lenders is the following: “Kivans: I am very grateful to you for having made it possible for me to stay in business and make my dreams a reality. Many Thanks.”
Previous Loan DetailsMyriam lives in a place very close to the sea with her husband and four children who range in age from 20 to 29. She has a business called “Sala de Belleza Imagen Tice” (Imagen Tice Beauty Salon) located in the city of Barranquilla’s Modelo neighborhood. She opened it shortly after finishing her... More from Miriam Del Socorro'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