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Silvia

Update on Silvia

Silvia invested her first Kiva loan in the purchase of a variety of merchandise, such as sheets, footwear, bags and cosmetic products, among others, to re-sell on credit, and in the purchase of supplies to make the puddings and breads that she sells. This time, Silvia is turning to Kiva for her second funding through the Fundación Mario Santo Domingo to purchase a baker’s oven because her products have been very well received and her customers keep asking for more. That is why she can no longer continue making them in an amateurish way and needs to use modern technology and improve quality.

Silva sends this message to her lenders: “I thank you with all my heart for the loan you have given me and for the easy payments. The loan helped me improve my profits.”
View original language description ↓
Silvia invirtió su primer credikiva en la compra de mercancías variadas como sábanas, calzado, bolsos, porductos cosméticos, entre otros para la venta a crédito y en la compra de insumos para la elaboración de los pudines y panes que ofrece. Esta vez, Silvia recurre a su segundo financiamiento con kiva, a través de la Fundación Mario Santo Domingo para comprar un horno de panadería ya que sus productos tienen muy buena acogida y sus clientes le piden cada vez más, razón por la cual no puede seguir haciéndolos de manera casera y requiere tecnificarse y mejorar su calidad. Envía un mensaje a sus financiadores asi: “Les doy gracias de todo corazón por el crédito otorgado y la facilidad para el pago de las cuotas, el crédito me ayudó a mejorar mis ganancias”

Previous Loan Details

Silvia lives in Corregimiento de Campeche in the Atlántico Department. From a very young age she’s been preparing delicious meals and cakes, an occupation she learned from her mother who worked as a domestic employee. When her mother died, Silvia started doing the same kind of work because she… More from Silvia'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
  • 190
    View loans »
    Colombia Loans Fundraising
  • $12,876,400
    Funds lent in using Kiva
  • 1,774.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Silvia to purchase a baker's oven.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 15, 2012
Listed
Jun 23, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 30, 2013