Check out some available loans that are similar to this one!
Magalis

Update on Magalis

Magalis is very happy with her previous Kiva loan, with which she bought materials to make decorations, figurines and other crafts from ceramic and porcelain. She received a discount on her purchases because she bought in higher volume and with cash. Now she remains enthusiastic and is applying for a new loan through Kiva with which she will buy materials and forms to make new figures and finish orders that have been made, which guarantee her success in this investment. Her message to the lenders of Kiva is as follows: "Continue to support the micro-businesses with low cost loans. Thank you very much."
View original language description ↓
Magalis está muy contenta con su credikiva anterior pues compró materiales con los que fabricó adornos recordatorios y otras manualidades en cerámica y en porcelanicron. Con esta compra recibió descuentos porque la hizo en mayor volumen y de contado. Ahora ha quedado entusiasmada y está aplicando a un nuevo credikiva con el cual comprará materiales y moldes para hacer nuevas figuras y cumplir con los pedidos actuales, lo cual garantiza su éxito en la inversión. Su mensaje a los financiadores de Kiva es el siguiente: “Continúen apoyando a los microempresarios con créditos a bajo costo. Y muchas gracias.

Previous Loan Details

Magalis lives in the town of Soledad with her husband; she has four children aged 25 to 35. Magalis is the owner of a ceramics business which she has run for twenty years so has a lot of knowledge of both the work and the business skills she needs. In the workshop Magalis makes keepsakes, househo... More from Magalis'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
  • 359
    View loans »
    Colombia Loans Fundraising
  • $14,083,800
    Funds lent in using Kiva
  • 1,782.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Magalis to buy materials and forms to make new figures and complete orders that have been made.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2012
Listed
Feb 24, 2012
Currency Exchange Loss:
Covered
Ended:
Dec 15, 2012
This photo was used before for a previous loan for Magalis. It was first posted on Kiva on Jun, 2011. Learn More