Update on PabloPablo invested his previous Kiva loan in improvements to the facilities in his restaurant. Now his business looks more elegant and, above all, it is more comfortable. His customer base gradually increased and now he plans to make another investment.
Pablo will buy supplies in large volumes because his new market of customers requires an immediate response. He will be able to do this with his new Kiva loan. Pablo would like to tell the Kiva lenders, "Thanks for the support you have given to me since it has been a great help to my business. I hope that you will continue supporting me and many other micro-entrepreneurs."
Previous Loan DetailsPablo has a restaurant located in the community of La Pradera where he sells stews, cream of cheese soup, yucca meals, and other of his own delicious recipes traditional to the Caribbean Coast. It is located in Cordoba's savannah region. He thought of his enterprising idea in the city of Barranqu... More from Pablo'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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