Update on VilmaThank you for supporting Vilma who used her Kiva loan to increase her working capital. She was able to have funds sufficient to fill her customer orders. The number of her customers increased as well as her sales and profits which gave Vilma much satisfaction because her family income is improving. She says to her lenders: “I’m very grateful for the economic support received; I hope to continue receiving it.”
She’s currently applying for a new Kiva loan to buy shoes, perfumery and cosmetics because the second semester of the year has arrived and sales usually increase at this time. Because her clientele is regular, they start placing orders and recommending new buyers to her and this is precisely the success of her Kiva loan.
Previous Loan DetailsVilma C., aged 43, is a cheerful and hard-working entrepreneur, who sells clothes, footwear, cosmetics, silverware and catalog products. She manages to generate enough income to provide for her two children, with whom she lives in the neighborhood "La ciudadela 20 de Julio". This neighborhood is ... More from Vilma'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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