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Martha Cecilia

Update on Martha Cecilia

Martha used her previous Kiva loan to buy food products, snacks and soft drinks which she sold in her store and, as a result, she slightly increased her working capital and profits. Since she received her loan she has opened another business and now has two income-generating businesses in different parts of the city. She sends the following message to Kiva lenders: "Thanks to the support you have given my business, it has grown rapidly". Martha is currently requesting a new Kiva loan with which she plans to buy products such as milk, sauces, coffee, sugar and other food products because this is a time of year when her demand, and consequently her profits, increase.
View original language description ↓
Martha con su anterior credikiva compró víveres, ranchos, refrescos y bebidas, que vendió en su tienda y con ello aumentó ligeramente su capital de trabajo y por consiguiente sus utilidades que son ingresos para su hogar. Desde que recibió su crédito, dio apertura a otro negocio y hoy son dos unidades generadoras de ingreso con las que cuenta en puntos diferentes de la ciudad. Ella envía el siguiente mensaje a los financiadores de Kiva: "Gracias por el apoyo prestado al negocio, de esta manera se da un excelente crecimiento. " En la actualidad está aplicando a un nuevo credikiva, con el cual planea comprar productos como leche, salsas, café, azúcar y otros víveres, debido a que en esta época de fin de año aumenta la demanda y por consiguiente sus ganancias.

Previous Loan Details

Martha lives in the southwest part of the city with her partner and her four children, ages 13 to 22. She has owned a store in the La Pradera neighborhood for a little more than three years. Her business is located in her parent's house. She has all the infrastructure necessary for operating… More from Martha Cecilia'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
  • 181
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,797.4
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,125 helped Martha Cecilia to buy products such as milk, sauces, coffee, sugar, etc.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 10, 2012
Listed
Dec 18, 2012
Currency Exchange Loss:
Possible
Ended:
May 20, 2014
This photo was used before for a previous loan for Martha Cecilia. It was first posted on Kiva on Nov, 2011. Learn More