Update on Ruth ElenaRuth invested her Kiva loan in non-perishable food products and beverages so that she could restock her store. With this investment, she was able to save and generate more revenue. By purchasing in large quantities, she was able to increase her profitability.
Ruth sends the following to the Kiva lenders: “By working with the Kiva funds from Fundación Mario Santo Domingo, I have been able to save on interest and live a much more peaceful life.” At the moment, she is applying for another Kiva loan so that she can make a large bulk purchase of groceries and non-perishable food items. As a result, Ruth will be able to obtain discounts and restock her business. This will make an impact on her customers’ perception so that they will always want to return and make purchases. This is exactly how businesses make progress.
Previous Loan DetailsWith her previous loan, Ruth bought grocery items and meat with which she expanded her business and sold a great deal more. This has satisfied her greatly, because she was able to get special discounts on her purchases which increased her profits. She is now getting ready to invest again, and she... More from Ruth Elena'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