Update on Martha SegundaMartha is very happy because with her Kiva loan she bought an industrial machine and it was even enough to buy raw materials and supplies like cloth, threads, stuffing and a sewing machine. At present she is applying for a Kiva loan with which she will buy all kinds of fabric by the roll, thread and stuffing in a volume that makes it easy for her to get special discounts for purchases in cash and in great quantity. With her production she will satisfy the needs of her customers. That's why Martha asks the lenders on Kiva to continue supporting small businesses, because with the financing they are carrying out their dreams.
Previous Loan DetailsMartha is 46 and the mother of 3 children who range in age from 22 to 30. She works in the municipality of Soledad, where she also lives. She makes curtains, valances, and cushions, an activity that she learned 30 years ago to support her home. She initially worked in a furniture shop where sh... More from Martha Segunda'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