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Eder

Update on Eder

Eder repaired his hot-dog cart, bought an oven, flour, sauces and meats in larger amounts and feels very satisfied. His Kiva loan was of use because now his tools are in better condition and his working capital increased; his business has progressed because he now participates in greater events and his products rotate more quickly. His message to Kiva lenders is the following: I feel very happy. I hope you will always keep the door open so that people like me can grow spiritually and economically.

He will use the new Kiva loan he’s requesting to buy ingredients like flour, cheese, ham, sauces, meat and mushrooms because the Christmas season is approaching and customers have more money to spend and his sales will grow so he must have enough working capital to invest because this is precisely what his Kiva loan’s success depends on.
View original language description ↓
Eder reparó su carro de perros calientes, compró un horno, harina salsas y carnes en mayor volumen y se siente muy satisfecho. Su credikiva lo benefició porque ahora sus herramientas están en mejores condiciones y su capital de trabajo aumentó, su negocio ha progresado porque ahora participa en eventos de mayor envergadura y sus productos rotan más prontamente. Su mensaje a los financiadores de Kiva es el siguiente: Me siento muy feliz, les deseo que siempre tengan la puertas abiertas, para que personas como yo, crezcamos mas espiritualmente y económicamente. La nueva inversión ala que ahora está aplicando con credikiva, será para comprar insumos, como harina, queso, jamón, salsas, carne y champiñones, pues se acerca la época navideña y los clientes tienen más dinero para comprar, de esta manera sus ventas se incrementan y debe tener suficiente capital de trabajo para invertir, porque justamente en esto radica el éxito de su credikiva.

Previous Loan Details

Eder is a 47-year-old married man with two children, ages 15 and 20. His business involves making fast food and is located in a space in front of his home where he sells every weekend. He also sells to the city residents in the Department of Atlántico where festivals are held. This idea got st... More from Eder'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
  • 301
    View loans »
    Colombia Loans Fundraising
  • $13,783,825
    Funds lent in using Kiva
  • 1,816.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Eder to buy ingredients like flour, cheese, ham, sauces, meat and mushrooms.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2012
Listed
Nov 22, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013
This photo was used before for a previous loan for Eder. It was first posted on Kiva on Oct, 2011. Learn More