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Eduardo Rafael

Update on Eduardo Rafael

Eduardo is a cobbler and it is going well and this is thanks to his Kiva credit, combined with his capacity for work. Upon accessing a loan he invested it in the purchase of materials like leather, soles and other materials. He was able to get discounts and fabricate new designs that were sold very quickly. The increase in his production helps improve his life and the dreams of his family. These improvements are reflected in the well-being of his family. He says to his financiers (Kiva lenders) that they should continue to help the small Colombian micro-businesses, so that they can meet their goals. That is what Eduardo is grateful for. Currently he is applying for a new Kiva loan with which he will purchase a display case in order to show off his new December designs, as well as to purchase material like leather, vinyl, glue, etc. The quality with which he makes the shoes, which changes according to the season, is what makes the investment of Kiva credit so successful for Eduardo's shop. Eduardo has plans for great success for him and his family and the loan will allow him and his family to have a happy Christmas season and to make many goals so that his 2013 new year will be prosperous.
View original language description ↓
Eduardo en su fabrica de calzado le está yendo muy bien y esto es gracias a su credikiva, combinado con su capacidad de trabajo, pues al acceder a un préstamo lo invirtió en la compra de materiales, como cueros, suelas pegantes e inusmos, ganando descuentos y fabricando nuevos diseños que fueron vendidos muy pronto. El aumento de su prodcción ayuda a una mejor conviviencia pues los sueños familiares se ven rteflejados en beneficios para el bienestar del hogar. El dice a sus financiadores que sigan ayudando a los microempresarios colombianos, para que puedan cumplir las metas y esto es lo que Eduardo lo agradece mucho. En la actualidad está aplicando a un credikiva nuevamente, con el cual comprará una vitrina, para hacer la exhibición de nuevos diseños decembrinos, y materiales como cuero, cuerina, pegante etc. La calidad con la que fabrica el calzado, que van de acuerdo a cada temporada es lo que hace que la inversión de su credikiva en el taller de Eduardo tenga mucho éxito para él y su familia y hará que pasen una navidad feliz y tengan muchas metas para que su año nuevo 2013 sea próspero.

Previous Loan Details

Eduardo has bought materials with which he has created new designs for sandals. His business has changed since he received his Kiva loan, because he was able to fulfill his obligations to all of his customers. His goal later on is to grow his business in order to provide employment to many who ... More from Eduardo Rafael'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

  • $11,100
    Average annual income
  • 500
    View loans »
    Colombia Loans Fundraising
  • $14,967,675
    Funds lent in using Kiva
  • 1,774.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $600 helped Eduardo Rafael to purchase material like leather, vinyl, glue, etc.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 7, 2012
Listed
Dec 27, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 28, 2014