Update on MonicaThank you for supporting Monica in her food preparation and food selling business. With her Credikiva loan she was able to buy more inputs than usual, which had a positive impact on her income and made it possible for her to buy a coolbox where she can keep her food. Monica has diversified her range of products and she is pleased because she is remodeling her house little by little. She says the following words to her lenders: "Your economic support motivates us to continue working and bringing up our children".
She is currently applying for another Credikiva loan, which she will use to buy food in larger quantities in order to increase her working capital and thus her income, and to continue benefiting her family.
Previous Loan DetailsMónica, 41, lives with her husband and four children, aged 6 to 15. For 14 years she and her husband (shown in the photograph) have been running a family business making and selling chicken and rice. Her husband uses a tricycle cart for his daily sales route and they also have a stall across fr... More from Monica'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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