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Update on Rafael

Rafael is applying for his second Kiva loan because he wants to buy soft drinks and other beverages to sell. He is getting ready for the end of the year, when he sales increase. His previous Kiva loan was invested in 30 cases of beer and 8 cases of Poni Malta. He sold these, reinvested and used the new profit for his wellbeing and his family's. When speaking of the financiers, Rafael says: "Thanks to them I have been able to make my business grow and been able to improve my own quality of life and my family's." He also expresses that thanks to his work in the business, he feels like a useful person to his family and society.
View original language description ↓
Rafael está aplicando a su segundo credikiva, porque quiere comprar bebidas y refrescos fríos para su venta, pues se prepara para fin de año época en el cual repuntan sus ventas. Su anterior credikiva lo invirtió en 30 cajas de cervezas y 8 de poni Malta, las cuales vendió, reinvirtió y aplico nuevas utilidades a su bienestar y al de su familia. De los financiadores Rafael dice “Gracias a ellos he podido hacer crecer mi negocio y que ha podido mejorar la calidad de vida de él y la de su familia. También expresa que gracias al trabajo en el negocio, se siente una persona útil a su familia y a la sociedad.”

Previous Loan Details

Don Rafael C. A. is 77 years old and owns a small business that he started in 1991 when he left his work in a company to give way to his enterprising spirit and work independently. He sell beers, sodas, juices, candy and cookies in the La Magdalena neighborhood where he lives with his wife. Don R... More from Rafael's previous loan »

Additional Information

About Fundación Mario Santo Domingo

Fundación 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.

About Colombia

  • $11,100
    Average annual income
  • 351
    View loans »
    Colombia Loans Fundraising
  • $15,676,275
    Funds lent in using Kiva
  • 1,915.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Rafael to buy soft drinks and other beverages to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 11, 2011
Nov 18, 2011
Currency Exchange Loss:
Dec 15, 2012
This photo was used before for a previous loan for Rafael. It was first posted on Kiva on May, 2011. Learn More