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Miguel Angel

Update on Miguel Angel

Miguel is applying for his second Kiva loan, with which he plans to buy basic materials and ingredients to prepare his foods, and he will also buy tools and repair others, to continue improving his infrastructure. With his previous Kiva loan, he bought a tricycle and ingredients in large volume, and these have served him well, because he is more organized, he obtained discounts, he increased his clientele, etc. His message to the Kiva lenders is the following: I am thankful to the people who supported me with resources through the previous loan, since I was able to complete the planned investments that I needed for the business.
View original language description ↓
Miguel está aplicando a su segundo credikiva con el que planea comprar materias primas e insumos para la preparación de sus comidas y también comprará herramientas y reparará otras más, para ir mejorando su infraestructura. Con su anterior credikiva compró un triciclo e insumos en un mayor volumen y esto le ha servido mucho, porque está mas organizado, obtuvo descuentos, aumentó su clientela etc. Su mensaje a los financiadores de Kiva es el siguiente: “ Agradecido con las personas que me apoyaron con recursos para el crédito anterior, ya que pude llevar a cabo las inversiones planeadas que necesitaba para el negocio. “

Previous Loan Details

Miguel Ángel S., 51, is a very creative entrepreneur living in the city of Barranquilla with his wife and 11-year-old son. For the last six months he has been working making chicken with rice to sell. He started this business when he lost his job and his entrepreneurial spirit flowered. He sta... More from Miguel Angel'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
  • 288
    View loans »
    Colombia Loans Fundraising
  • $13,889,825
    Funds lent in using Kiva
  • 1,782.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Miguel Angel to buy basic materials and ingredients to prepare his foods and also to buy tools and repair others.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 16, 2012
Listed
Feb 24, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013