Update on Juan AlbertoWith his previous Kiva loan, Juan bought organic supplies, crates, combs, and cores to produce the honey which he sold. He also bought merchandise that he wife sold, and both of them increased their working capital.
He is about to receive a new Kiva loan to buy supplies for his apiaries because he wants to keep them strong. He will also replaster the walls of his house because his goal is to make it more comfortable. He is grateful to Kiva for all of this and hopes the lenders will continue to support small producers so that they can increase their incomes as he has been doing until now.
Previous Loan DetailsJuan used his Kiva loan to buy many things, and he is happy. He bought materials for beekeeping; tap holes, bases, boxes, frames, comb foundations, and lids and tops. He had enough to buy merchandise for the store that he has in his house, which his wife attends to. Juan tells the Kiva lende... More from Juan Alberto'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
- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Jul 27, 2012
- Aug 20, 2012
- Currency Exchange Loss:
- Jun 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.