Update on Nancy EdithPerfumes, purses, shoes, and general clothing was what Nancy bought when she got her Kiva loan. This investment expanded her sales and she opened up new lines of products. Her business is better stocked and her sales have allowed her to travel to Panama City two times from where she brings merchandise such as shoes, perfumes, etc.
She sends the following message to her lenders, "I thank you and hope that you continue to support me because my dream is to have a large store." Nancy currently is using her Kiva loan to buy a sewing machine, supplies, clothes making supplies, and various types of merchandise that customers have requested, making this investment the most successful this year.
Previous Loan DetailsNancy is 59, and a married woman. She is the mother of four children, ages 33 to 40. For more than 20 years she has been a merchant, an activity she began with the aim of helping her husband with the household expenses. She does this by travelling to Panama, where she buys perfumes, clothing and ... More from Nancy Edith'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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