Update on Gloria AlbaThanks for supporting Gloria with her last Kiva loan, which allowed her to buy raw materials and supplies such as fabric, thread, zippers, clasps, and more. Her business was kept stocked up and she is very happy. Currently, she is applying for another loan. With this new financing, she will buy fabric to make vests, which is her best-selling product. So she is planning to make a successful investment with her Kiva loan once again. Her message to Kiva lenders is the following: "Thanks for your contribution and may God bless you."
Previous Loan DetailsWith her previous loan, Gloria bought a sewing machine, covers for motorcycle seats, and fabric to make sleeves and gloves for motorcyclists. She increased sales with the loan and is satisfied with the results. Therefore, she is requesting a new loan to buy vests, covers, and gloves so that she ... More from Gloria Alba'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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