Update on MayraMayra used her previous loan to buy household items, domestic accessories, juvenile products, clothing, cosmetics and shoes. She succeeded in having good sales and reinvesting in her business by increasing her working capital a little more. She is very pleased with her investment and is applying for a new loan with which she will purchase cosmetics, dresses and shoes, all customers’ orders she took at her pre-sale. She wants her customers to feel satisfied and to return to buy from her since they are the reason she is in business and Mayra recognizes that and this is just what makes Kiva such a success.
Previous Loan DetailsMayra, who is 22 years old, lives in the municipality of Soledad. She has a daughter, who is 2 years old. There, since 2007, she has sold a variety of merchandise such as perfumes, clothing, and cosmetics through orders placed from catalogs or at exhibits. She sells on credit, with agreements wit... More from Mayra'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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