Update on EderWith his previous credikiva Eder bought stationary which he sold to the public and fulfilled a supplier contract with a public body from the Puerto Colombia municipality. His business has been gradually growing and he needs to increase his working capital even more to buy stationary and cellphone accessories. This is why he has come for a new credikiva as with this he will have stock to attract customers everyday and he will use this investment for items which have a fast turnaround, generating a profit. His message for the Kiva lenders is the following: "I am grateful for the support I have received and I wish you much success with your businesses and prosperity in your homes".
Previous Loan DetailsEder is a young man of 25 who has a business called "E Internet" (And Internet) in the center of Puerto Colombia, a town which is located in the North-west of Atlántico department and borders with the Caribbean coast to the north. Eder is a graphic publicist and an electronic engineering student... More from Eder'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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