Update on RosaWith the previous credikiva, Rosa bought two fishing nets and beers directly from the distributor. This resulted in an increase of her working capital and income, compared to what she was used to.
She feels happy now and is requesting a new credikiva, with which she will buy beers in larger quantities, in order to prepare for the holidays season. This season is full of celebrations, which justifies this decision and helps her avoid overhead costs by having enough stock. Not only will she be able to sell the beer to her customers, but also to other local shop-keepers when they run out of stock.
She wants to send a message to kiva lenders: "I would like to thank the help I have received and I hope that life gives you back all the good things you do."
Previous Loan DetailsRosa, 45 years old, lives in the Puerto Colombia municipality, located on the sea shore. It is a tourist spot and frequented by families on weekends and during vacation seasons to enjoy the beach, breezes and sea and the delicious meals prepared with the area specialty, seafood. Rosa, who lives… More from Rosa'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
- Dec 14, 2012
- Dec 18, 2012
- Currency Exchange Loss:
- Jan 17, 2014
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.