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Gladys

Update on Gladys

When she got her first Kiva loan, Gladys bought frames to make paintings and materials with which she made many other products. She also paid her suppliers and was ready to invest again. For this reason, currently she is planning another Kiva loan, with which she will buy raw materials to make wood handicrafts on which she will apply her best paintings.

She says to her lenders that she thanks them very much for helping her with the loan because she was able to reinvest in her business and pay cash for her materials. She hopes to continue having this support.
View original language description ↓
Gradys cuando accedió a su primer credikiva, compró marcos para elaborar cuadros y materiales con los que hizo muchos productos; así mismo pagó a sus proveedores y quedó listo para volver a invertir. Por eso en la actualidad está planeando un nuevo credikiva, con el cual comprará meterías primas y elaborará artesanías en madera a las que aplicará sus mejores pinturas. Ella dice a sus financiadores que muchas gracias por ayudarla con el crédito porque pudo capitalizar su negocio y comprar sus materias prima de contado y espera seguir contando con esta ayuda. “

Previous Loan Details

Gladys O. is a very hard-working and creative woman. She has four children ranging from 19 to 41 years old. She is a widow, and she lives in the city of Cartagena de Indias. This city is on the northern coast of Colombia, and that is where she has her business, “Artesanías Gladis” (Gladis’ Han... More from Gladys'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
  • 525
    View loans »
    Colombia Loans Fundraising
  • $14,939,450
    Funds lent in using Kiva
  • 1,771.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Gladys to buy raw materials to make wood handicrafts for her paintings.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 11, 2012
Listed
May 22, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013
This photo was used before for a previous loan for Gladys. It was first posted on Kiva on Apr, 2011. Learn More