Update on Erika MariaThank you for supporting Erika who used her Kiva loan to increase her purchases of clothes, cosmetics and a computer system. She managed to open an Internet café to generate more income. Now, Erika manages her business with higher profitability and her income is refreshed.
She’s currently applying for a new Kiva loan to buy new computer equipment and a cooler to sell soft-drinks, especially ice. She sends the following message to her Kiva lenders: “Thanks for the opportunity of getting more help to strengthen income.” She asks that you continue to support her.
Previous Loan DetailsErika is 31 years of age and lives in the south-west of the city, along with her spouse and two children aged seven years and five months. She works in her neighborhood selling perfumes, cosmetics, sweets, clothing and catalog products, which she sells on credit in accordance with the terms agree... More from Erika Maria'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