Update on Gloria EstefanyGloria is very satisfied with the investment that she made with her first Kiva loan, because she bought a number of items to sell that her customers were demanding at the time. With this investment she was able to satisfy their preferences and increase her family income. She is requesting a loan again so that she can continue to buy more handcrafted items made from wood such as vases, tables, lamps, rocking chairs, sectional benches, and a variety of other items. Gloria is a restless youth with a strong desire to excel and build her business into a large company. Ever since she was granted her first loan, Gloria has been enrolled in accounting and finance classes in a public institution that offers professional programs; she has completed 5 modules there. This makes her very happy, and she works every day to make her dream a reality. She wants to organize her business inside her house, giving it more space so that it can be seen by passers-by. Her message for all the Kiva lenders is the following: "Thanks to all of you, I am striving toward my goals, and maintaining a firm intention to continue ahead so that I can achieve each and every one of my goals. Thank you so much for your support."
Previous Loan DetailsGloria, age 20, is a dynamic and enterprising young woman who works in the retail sector. She sells handicrafts and other types of merchandise that are brought in from Sampués, a town in the Department of Sucre. Gloria distributes her goods to her customers who include neighbors, relatives, fri... More from Gloria Estefany'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