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Edgardo

Update on Edgardo

Edgardo used his previous Kiva loan to buy raw materials and supplies such as leather, shoe uppers and decorative materials with which he made new footwear designs that he duly sold. He is currently applying for a new Kiva loan as he has found the best suppliers of decorative stones and leather in Bucaramanga, a city known for the quality of its footwear and leather products, but needs more working capital in order to be able to buy all the supplies and materials that he needs to further improve the quality of his goods. This is why he is applying for a Kiva loan. His investment will be successful as he will be able to use it to boost sales to a wider market. He plans to increase his sales, especially during the second half of the year which is usually his peak sales period.
View original language description ↓
Con su anterior credikiva Edgardo compró materias primas e insumos como cuero, capelladas, adornos con los cuales fabricó nuevos diseños de calzados que vendió oportunamente En la actualidad está aplicando a un nuevo credikiva, pues investigó que en la ciudad de Bucaramanga, caracterizada por la calidaden calzados y productos de cuero, estan los mejores proveedores de pedreria y cuero, pero requiere tener mas capital de trabajo para comprar todos los insumos y materiales que requiere para mejorar aun mas su acabado. Esta es justamente la razón por la cual acude a un creidkiva, inversión que resultará exitosa en el marco de que con ella potencializará un mercado menos doméstico, con el que proyecta el ncremento de sus ventas , especialmente para el segundo semestre del año, donde usualmente ocurren los picos de incremento.

Previous Loan Details

Edgardo lives in the San Isidro neighborhood where he manufactures ladies’ shoes, a business that started in 2007. When he completed training courses at SENA, the National Learning Service, he decided to start his adventure in business and earn income autonomously. He sells by the unit for c... More from Edgardo'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
  • 249
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,798.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Edgardo to buy decorative stones and leather.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Sep 25, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 25, 2014