Update on Carlos DarioThank you for supporting Carlos with his previous Kiva loan, as with it, he was able to have a good selection of merchandise to offer to his customers who dressed in new clothing during the holiday season.
He was also able to offer better cell-phone service, with new plans; and increase the volume of rentals for his washing machines. With this investment, he earned good money during the busiest shopping season, and for this, he says, “Thank you very much, Kiva lenders.”
He is currently getting ready for the back-to-school season, with merchandise geared towards students who are returning to classes. For this he is requesting a new loan, with which he will purchase notebooks, pens, pencils, crayons, tempera paints, and construction paper.
He plans to increase his sales with new customers and improve his earnings even more, and thus, his quality of life.
Previous Loan DetailsWhen Carlos and his wife became unemployed and without an income four years ago, they decided to look for alternatives to pay the household expenses, where they have three children, from ages eight to ten. Initially they bought a cellular plan and decided to sell minutes to their neighbors who w... More from Carlos Dario'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