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Mercedes

Update on Mercedes

Mercedes used her previous Kiva loan to buy fabric and various accessories to make clothing and costumes, especially for children; she did very well with them. Now, she’s preparing for a new season and she needs to both pay labor costs and to buy fabric because she has pending orders she must respond to in order to continue generating income sufficient for her and her family’s wellbeing. Her message to Kiva lenders is the following: “I am very grateful for the support received and I pray to God that He’ll shower blessings on you and your families.”
View original language description ↓
Mercedes con su preVio credikiva compró telas y accesorios varios para producir prendas de vestir y disfraces, especialmente para niños, con los que le fue muy bien. Ahora se prepara para una nueva temporada, en la cual necesita pagar mano de obra y comprar telas porque tiene encargos a los cuales responder para continuar generando ingresos suficientes para su bienestar y el de su familia. Su mensaje a los financiadores de Kiva es el siguiente: “Agradezco la ayuda recibida y ruego a Dios que los colme de bendiciones a ustedes y a sus familiares. “

Previous Loan Details

With her previous loan, Mercedes bought fabrics and accessories for making clothes, especially outfits for girls. She plans to use her second Kiva loan to buy fabrics, accessories, and pay for labor so that she can complete a large important order. Mercedes sends the following message to Kiva l... More from Mercedes'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
  • 235
    View loans »
    Colombia Loans Fundraising
  • $13,363,950
    Funds lent in using Kiva
  • 1,799.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Mercedes to buy fabric in larger amounts.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 11, 2012
Listed
Oct 17, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013
This photo was used before for a previous loan for Mercedes. It was first posted on Kiva on Sep, 2011. Learn More