Update on Alejandro RafaelAlejandro received a Kiva loan in the past few months and bought fruit such as mangos, pears, mandarins, plums and grapes. With this purchase he increased his inventory and worked more comfortably, and with his earnings made some improvements to his home. His sales are now increasing and he has improved his quality of life. He says to his lenders: "I am very grateful to those who continue to provide support to grow our businesses." He is now so enthusiastic aout his business that he is applying for a new Kiva loan, with which he will buy imported fruit and cases of beer. He plans to take advantage of the carnival season that is approaching, by increasing his inventory, and selling the thing he likes most to those who are enjoying the season, which is one of the best-known celebrations of Caribbean culture in the world..
Previous Loan DetailsAlejandro, aged 30, lives with his wife and two daughters aged 5 and 8. They have a fruit stand, which he started when he began selling mangoes and plums in front of a school. His biggest market were the children who came out of the school at the end of the school day. As he didn't have many... More from Alejandro Rafael'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