Update on ManuelThank you for supporting Manuel with his earlier Kiva loan for his food and general family products store. With his Kiva loan, he was able to supply her business and and generate better profit.
Since receiving his loan, Manuel has seen his business increase sales possibilities. He is aglow because of his great satisfaction. He says to his financiers: "Thank you for your confidence and for supporting us economically, to get ahead little by little."
Today, Manuel is applying again for a Kiva loan, which he will use to buy personal use products, items for the home and foods. He believes he must always be investing in his business for the rapid turnover of these products. This is what makes a Kiva loan a successful investment.
Previous Loan DetailsManuel lives to the south west of the city with his wife and their 12 year old son. In this same place he has a shop where he sells everyday family items, in small quantities in accordance with the buying possibilities of his customers, principally neighbours from his neighbourhood. His customers... More from Manuel'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