Update on Uriel EnriqueWith his loan from Kiva, Uriel bought fabric wholesale with cash to make and sell clothing, especially jeans and sports shirts. He was very happy with his Kiva loan because it increased his working capital a little, and this gave him enthusiasm to continue with his intention to grow.
Now he is applying for new financing, and with it he will buy supplies such as fabrics, thread, and accessories in order to make clothing that hints at New Year's Eve parties and is in fashion. He sends the following message to those who support him financially: "I am very grateful to Kiva and to La Fundación Mario Santo Domingo, and I hope to continue receiving this support in order to continue making progress in business and domestically."
Previous Loan DetailsUriel is 53 years old and lives in the neighborhood of July 20th Citadel, an area that combines formal and informal productive spaces, shopping centers, office buildings, residential complexes, private homes, and supermarkets. However, it is primarily known throughout all of Colombia because it ... More from Uriel Enrique'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
- 14 months (Additional Information)
- Repayment Schedule
- Oct 4, 2012
- Oct 23, 2012
- Currency Exchange Loss:
- Oct 18, 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.