Update on JavierIt has gone very well for Javier in his business selling dough and cell-phone minutes. He received a previous Kiva loan with which he bought cell phones, sweets, and food, increasing his sales with his new equipment. He also managed to make new food sales, financing the loan portfolio among his customers.
Now he has more income and he has improved his quality of life because there are new earnings for his children. He says to his financial backers: "Thank you very much for the help. It's a good job that helps the most needy people."
Currently Javier's requesting a Kiva loan to buy a computer, more supplies for his food, and corn to make dough. The Carnival celebrations are approaching and the community of people who buy food usually grows during this period, which will make his Kiva loan successful.
Previous Loan DetailsJavier is a young man who is 30 years of age and lives with his wife and five-year-old son in a town located 10 minutes from the city of Barranquilla. There he has a small enterprise where he provides calling services, sells and reloads SIM cards, and offers backpacks and candy. He and his wife... More from Javier'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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