Update on LeydiLeydi used her previous loan to buy a variety of merchandise through her specialized product guides and sold everything quickly because she invested in pre-existing orders and had a Kiva loan on hand to help her achieve her goal. She is now getting ready for the best commercial season of the year: the month of December. This month is full of family celebrations on which her customers spend a lot of money so that they can enjoy the season with their families and consume the products that Leydi sells such as perfumes, colognes, face creams, body creams and other personal care items. It is with this in mind that Leydi is applying for a new Kiva loan. She does not have enough working capital to meet her demand and so she will use her loan to buy all the products necessary to satisfy her customers' needs and wishes. She sends the following message to Kiva lenders: "Thank you for your support. I hope that they continue developing this type of aid program for low income micro-businesspeople in Colombia".
Previous Loan DetailsLeydi is 18 years old and lives in Puerto Colombia, a municipality on the shore of the Caribbean ocean and very close to the city of Barranquilla. Leydi is a high school graduate, but could not continue her education. For this reason, she decided to embark on her entrepreneurial idea of selling… More from Leydi'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 19, 2012
- Dec 19, 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.