Update on MargaritaThank you for helping Margarita who, with her Kiva loan, bought varied merchandise such as clothing, shoes, and perfume. Her sales will increase due to this investment. She sends the following message to her financiers: "Kiva lenders, thank you very much for the sport that you offer from your home to women like me who are engaged in commercial activities." Today, her business has improved, giving her greater income and, as a result, a better quality of life. For this reason, she is requesting a new loan and will use these funds to buy clothing, shoes, and varied merchandise. Also, fathers' day is coming and this increases her orders and her sales.
Previous Loan DetailsMargarita is 52 years old. She is a merchant who sells clothing and women's accesories. With these she helps her customers present themselves well and generates income to support her home. She has regular customers to whom she sells mostly on credit. Wherever Margarita is, she identifies potentia... More from Margarita'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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Success!! The loan was 100% repaid