Update on BereniceThank you for supporting Berenice with her store because she invested in products that rotate more quickly and managed to increase her sales by having an appropriate stock on-hand. Her customers are more satisfied because they find everything in one place. Her wish for lenders and their families is that they have many blessings, especially good health and prosperity.
She’s currently applying for a new Kiva loan by means of which she’ll buy groceries in general like rice, oil, sugar, paper, deodorants and perishables like fruit and vegetables. Her investment will be successful because her clientele is quite distinguished which leads to her investment having an effective return.
Previous Loan DetailsBerenice, 41, lives with her partner and their three children, 9-17, in the south of city. She has a store that she opened 5 years ago in the town of Puerto Colombia, on the seashore. She found an unoccupied space with no competition nearby. There is an important sales potential that Berenice h... More from Berenice'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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