Update on LedisWith her previous Kiva Loan, Ledis bought several types of merchandise to boost her business because she felt she needed to increase her earnings. She is currently applying for another Kiva loan because she wants to buy clothes in order to diversify her inventory. Ledis wants to sell items in addition to those offered through specialized catalogs.
She sends the following message to the Kiva lenders: “I am very pleased with the opportunity you have given to my business and to my life in general.” For this reason, Ledis expresses great appreciation.
Previous Loan DetailsLedis, 29, lives in the southern part of the city with her husband and two children, ages 1 and 2, who she wants to become successful professionals. She has a business she began in order to generate income to help cover household expenses. She started it with a friend who contacted her about se... More from Ledis'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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