Update on CarlosCarlos is doing very well in his curtain factory thanks to his previous Kiva loan that he used to buy larger amounts of fabric, tie-backs and sheepskin that made it possible for him to produce more and increase his profits. Now, he’s working without the worry of having to find working capital and this is reflected in his, his wife’s and his children’s frame of mind.
He sends the following message to Kiva lenders: “May God bless you and your family for supporting such noble works.”
He’s currently applying for a Kiva loan to once again invest in raw materials and supplies to continue increasing production of curtains.
Previous Loan DetailsCarlos, 60, has designed and sewn curtains, blinds, trim and decoration in general, since starting his business 28 years ago. Initially he only took on simple designs, but he gradually became more skilled in decorative art, he added more value to his work. Currently he has clients that include im... More from Carlos'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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