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Erasmina Mercedes

Update on Erasmina Mercedes

Erasmina bought a commercial sewing machine and raw materials and supplies such as fabric, thread, zippers, and buttons with the previous loan. She was able to improve her finished products and increase her clientele. She used her profits to make improvements to her house and is very satisfied. She thanks all the Kiva lenders who helped her by financing her loan. She says that, on behalf of small entrepreneurs like herself, she hopes that they continue their support so that small businesses can grow.

Now Erasmina is applying for a new loan to buy raw materials and supplies such as fabric, thread, zippers, bottons, and trim to make more elegant clothing. She will be happy to see her clients well dressed for the most beautiful family holidays of the year, Christmas and New Year´s Day.
View original language description ↓
Erasmina compró una máquina industrial y también le alcanzó para comprar materias primas e insumos, como telas, hilos, correderas botones etc. Con este crédito mejoró el acabado de sus productos y además aumentó el número de clientes; con sus utilidades pudo hacer adecuaciones a su vivienda y se siente muy satisfecha. Su mensaje a los financiadores de Kiva es el siguiente: “ Estoy agradecida con todas las personas que nos han ayudado, a través del aporte que hacen en crédito, para nosotros los pequeños empresarios; espero que sigan apoyándonos, para progresar en nuestras microempresas. “En la actualidad Erasmina está aplicando aun credikiva, con el cual comprará materias primas e insumos, como telas, hilos, correderas, botones y aplicaciones, para producir ropa elegante en mayor cantidad, mientras ella estará muy contenta, de que sus clientes puedan estar bien vestidas, para esperar las festividades mas hermosas y familiares del año.: “La navidad y el año nuevo”

Previous Loan Details

Esramina F. is fifty-five and lives in the Simón Bolívar neighborhood in the city of Barranquilla. She is a seamstress and lives with her partner. She has two children, thirty-three, and thirty-four. She started her business thirty years ago, sewing her own uniforms. She got experience sewing ... More from Erasmina Mercedes'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
  • 266
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,816.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Erasmina Mercedes to buy raw materials and supplies such as fabric, thread, zippers, bottons, and trim to make elegant clothing.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2012
Listed
Nov 23, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014