Update on AngelAngel did very well with his last Kiva loan. He bought and sold a lot of fish, once again generating profits for his business. With his new Kiva loan, which he is now applying for, he will buy fish at wholesale on a cash basis. He will buy fish such as: largehead hairtail, corvina, painted mackerel, blue runner, Spanish mackerel, sea bass, snapper, Crevalle Jack, and prawns. With this investment, he will be able to respond to the demands coming from his established customer base in Puerto Colombia. This is a season that is commercially very profitable, and this will be precisely the reason for his success with this Kiva loan.
Angel wants to send the following message to the Kiva lenders: "May the Blessed Virgin shower you and your families with blessings for the generosity you have shown towards the small-businessmen and women of the world."
Previous Loan DetailsÁngel, 45, is married and has two children, aged 18 and 20. He lives in Puerto Colombia, a town located on the coast of the Caribbean, with great tourist potential; such that many families from Barranquilla and other nearby cities relocate there to enjoy its beach and sea breeze and the delicious… More from Angel'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
- 15 months (Additional Information)
- Repayment Schedule
- Nov 22, 2012
- Dec 12, 2012
- Currency Exchange Loss:
- Sep 17, 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.