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Hermencia

Update on Hermencia

Hermencia used her previous Kiva loan to buy items like helmets, vests, self-adhesive paper among others and she sold them quickly so her working capital rose slightly as a result. The new Kiva she’s applying for will be used to buy the same items because they are the ones that turn over most in her business generating profits quickly. She is very excited and says to her Kiva lenders: “In my family’s and my name I thank you for continuing to provide us your support and trust so we can continue growing in our business.”
View original language description ↓
Con su anterior credikiva, Hermencia compró articulos como cascos, chalecos, papeles autoadehesivos entre otros y los vendió rapidamente, por eso su capital d etrabajo se vió ligeramente incremntado. Su nuevo crédikiva, al que está aplicando, seá invertido en estos mismos articulos, pues son los que presentan mayor rotación en su negocio y genera utilidades muy pronto. Ella se siente muy entusiasmada y dice a sus financiadors de Kiva " Gracias en nombre de mi familia y mio, por seguir brindandonos su apoyo y confianza para seguir creciendo en nuestro negocio. "

Previous Loan Details

Hermencia is applying for her second Kiva loan. The first she used to buy accessories for motorcyclists such as vests, reflectors, letters and decorations that sold quickly, and she made important profits that she reinvested and which helped greatly with her family expenses. With the second loan… More from Hermencia'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
  • 183
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,800.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Hermencia to buy motorcycle helmets, vests, luxury accessories and self-adhesive paper.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 22, 2012
Listed
Oct 23, 2012
Currency Exchange Loss:
Possible
Ended:
May 7, 2014