Update on Rosiris MargothRosiris, 42, had a previous loan from Kiva with which she bought materials to make her handicrafts and also invested in two live pigs, which she sold to support her son’s studies at the University of Barranquilla, a city two hours away from Cartagena.
Today, Rosiris is preparing for a new Kiva loan with which she will continue increasing her working capital because she will fill orders for hammocks. Thus she will purchase fine thread in greater volume. With this investment she thinks she will be very successful since it leaves her with a greater profit margin and with an inventory of these products, which will increase the probability of their sale and of her ability to capitalize her business even more.
With her former profits, she invested in the acquisition of her son’s military I.D.. This time she plans to re-invest in her business. She is very grateful for the Kiva loans and says that they make it possible for her to get ahead with her family and we are sure she will.
Previous Loan DetailsRosiris, 42, is a widow who lives in San Jacinto with her four children, ages six through 21. Three of them study and the eldest works. In a land where vertical weaving is an abundant craft, Rosiris earns a living making hammocks, bags and bands, which is a trade she learned as a family traditi... More from Rosiris Margoth's previous loan »
About Fundación Mario Santo DomingoFundación 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.
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Success!! The loan was 100% repaid
- Repayment Term
- 13 months (Additional Information)
- Repayment Schedule
- Jul 27, 2012
- Aug 21, 2012
- Currency Exchange Loss:
- May 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.