Update on Maria LorenzaThanks for supporting María. With her previous Kiva loan she was able to buy flour, salt, and butter wholesale to make the rolls she sells to stores and food businesses. She also bought an industrial stove that allowed her to improve her productivity, as well as clothing, perfume, and footwear that her customers had ordered.
With this investment she improved her productivity level, sales volume, and liquidity. In other words, she had more income and a better quality of life for her family.
Currently she's applying for a new loan to invest in making a wholesale cash purchase of flour, salt, butter, and containers to make rolls. She's also going to buy clothing, perfume, footwear, and lotions to respond to customer requests.
María says to her lenders: "Thanks to Fundación Mario Santo Domingo and Kiva I have made progress in my business. I hope to continue having your support."
Previous Loan DetailsMaría is 72, married, and has six children, ages 31 to 45. She lives south of the city of Barranquilla, and prepares and sells bollos, a snack made of ground corn wrapped in corn husks, that she prepares with cheese or aniseed and offers to her customers, who have stores and small businesses sell... More from Maria Lorenza'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