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Elena Mercedes

Update on Elena Mercedes

Elena used her previous Kiva loan to buy fabric and tools. With them, she made elegant white shirts which her customers had ordered for upcoming festivities. It went well for her, because she was able to sell and re-invest. Her challenge now is to have enough working capital to respond to her customers' orders during the December holiday season. They are lining up, so Elena plans to buy basic materials and tools with this new Kiva loan. She knows that, if she invests in her customers' orders as planned, her business will be more successful. She has the following message for Kiva lenders: "These loans are good. Please keep lending so that we can keep working with funds more easily. Thank you very much."
View original language description ↓
Elena con su credikiva, compró telas e insumos y fabricó camisas blancas y elegantes que tenia encargadas, para que sus clientes asistieran a las fiestas programadas. A ella le fue y bien porque vendió y reinvirtió, su desafío ahora, es lograr tener el capital de trabajo suficiente, para responder a los pedidos de su clientela en las fiestas de Diciembre, pues ellos están en fila y Elena, programándose para hacer la compra de materias primas e insumos con su nuevo credikiva, al que esta aplicando nuevamente, pues sabe que si invierte en los pedidos de sus clientes, como lo planea, su negocio tendrá mas éxito. El mensaje a los financiadores de Kiva es el siguiente: “Son buenos los créditos , sigan prestando para poder seguir trabajando con plata mas cómoda. Muchas gracias “

Previous Loan Details

Elena Mercedes Meléndez Q. is a hard-working, 69 year-old woman who lives with one of her sons and three grandchildren in the town of San Jacinto, in the center of Bolívar province, in the north of the country. This town is famous nationwide for its beautiful handicrafts, especially hammocks, ba... More from Elena Mercedes'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

  • $6,070
    Average annual income
  • 307
    View loans »
    Colombia Loans Fundraising
  • $13,867,525
    Funds lent in using Kiva
  • 1,934.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Elena Mercedes to buy basic materials and tools.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 9, 2011
Listed
Dec 18, 2011
Currency Exchange Loss:
Covered
Ended:
Nov 15, 2012