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Rigoberto

Update on Rigoberto

Rigoberto says: “I feel very satisfied that thanks to support from Kiva lenders I’m able to still work and be productive though I’m an older person.” He used his previous Kiva loan to once again buy synthetic fabric he used to manufacture home appliance slipcovers that he quickly sold. This is why he’s applying for a new Kiva loan that he’ll use to make some home improvements to continue improving his quality of life.
View original language description ↓
Don Rigoberto dice: “Me siento muy satisfecho de trabajar y producir siendo una persona de avanzada edad, gracias a l apoyo de los fondeadores de Kiva” Con su anterior credikiva, una vez mas logró comprar sintético y fabricó muchos forros para electrodomésticos que vendió muy pronto. Por eso en la actualidad está aplicando a un nuevo credikiva con el cual hará reparaciones locativas a su vivienda y con ello continuará mejorando su calidad de vida.

Previous Loan Details

Rigoberto used his Kiva loan to buy synthetic plastic fabric at wholesale and manufactured slipcovers for washing machines, computers and printers. He increased profits and is very satisfied. He is currently applying for a new Kiva loan to buy synthetic fabric to make more slipcovers to respond... More from Rigoberto'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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Colombia

  • $6,070
    Average annual income
  • 366
    View loans »
    Colombia Loans Fundraising
  • $14,070,600
    Funds lent in using Kiva
  • 1,816.7
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,000 helped Rigoberto to buy building materials and supplies.
74% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 9, 2012
Listed
Nov 22, 2012
Currency Exchange Loss:
Possible
This photo was used before for a previous loan for Rigoberto. It was first posted on Kiva on Oct, 2011. Learn More