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Minerva Del Carmen

Update on Minerva Del Carmen

She is currently applying for a micro-loan (credikiva), her fifth loan investment from the Fundación Mario Santo Domingo, with which she has acquired a set of stable assets and has been able to increase her working capital and also her customer base, strengthening her business. She now wants to invest her micro-loan in materials and comestibles for making pastries and cakes and she will also buy cosmetics which people have already ordered from her. Her goal for the future is to continue acquiring new work equipment and continue to support her family and their well-being, as for this she works always in her business with the intention of achieving her goal. She thanks the lenders at Kiva for their work in providing low cost loans, as these loans have served to make better profits for her.
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En la actualidad está aplicando a un credikiva, quinto financiamiento que hace a la Fundación Mario Santo Domingo, con los que ha adquirido activos fijos, y ha logrado ampliar su capital de trabajo y así mismo su clientela fortaleciendo su negocio; Hoy invertirá su credikiva en materiales e insumos, para elaborar postres y ponqués y comprará también cosméticos, que le han encargado en su preventa. Su meta más adelante es continuar adquiriendo nuevos equipos de trabajo y continuar apoyando a su familia en su bienestar y para eso trabaja permanentemente en su negocio con el fin de conseguir su propósito. Ella da las gracias a sus financiadores de Kiva por el servicio prestado a bajo costo, pues le ha servido su crédito para que sus utilidades sean más altas.


Previous Loan Details

Minerva C. Gutiérrez is 58 years old and lives in Cartagena with her husband and two children. For several years she has worked as a pastry chef and caterer for parties, especially banquets. Minerva has always enjoyed taking courses, so she learned the art of baking and preparing specialty dishes… More from Minerva Del Carmen'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
  • 166
    View loans »
    Colombia Loans Fundraising
  • $12,831,825
    Funds lent in using Kiva
  • 1,799.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,675 helped Minerva Del Carmen to invest in materials and foodstuffs to make pastries and cakes and to also buy cosmetics.
99% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 12, 2012
Listed
Oct 17, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 21, 2014
This photo was used before for a previous loan for Minerva Del Carmen. It was first posted on Kiva on Sep, 2010. Learn More