Update on Erasmina MercedesErasmina bought a commercial sewing machine and raw materials and supplies such as fabric, thread, zippers, and buttons with the previous loan. She was able to improve her finished products and increase her clientele. She used her profits to make improvements to her house and is very satisfied. She thanks all the Kiva lenders who helped her by financing her loan. She says that, on behalf of small entrepreneurs like herself, she hopes that they continue their support so that small businesses can grow.
Now Erasmina is applying for a new loan to buy raw materials and supplies such as fabric, thread, zippers, bottons, and trim to make more elegant clothing. She will be happy to see her clients well dressed for the most beautiful family holidays of the year, Christmas and New Year´s Day.
Previous Loan DetailsEsramina F. is fifty-five and lives in the Simón Bolívar neighborhood in the city of Barranquilla. She is a seamstress and lives with her partner. She has two children, thirty-three, and thirty-four. She started her business thirty years ago, sewing her own uniforms. She got experience sewing ... More from Erasmina Mercedes'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