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Andrea

Update on Andrea

Andrea invested her Kiva loan into supplies and ingredients such as sacks of corn, pimpina oil, meat products, and she had enough left to buy a display case where she started her varieties business. Her income increased and her business grew. She says, “I am grateful to my sponsor for supporting this loan. Thanks to it, I’ve gotten ahead.” She is asking for a new kiva loan with which she will buy many supplies such as cooking oil, corn, meat products, and will also stock her display case with a variety of merchandise. This is the season of celebrations; her customer’s consumption increases, and she must be able to respond to keep them loyal and increase her working capital and income. She will achieve this thanks to Kiva and the access to funds for her loan.
View original language description ↓
Andrea invirtió su credikiva en materias primas e insumos en un mayor volumen como maíz por bulto, aceite en pimpina, productos cárnicos y le alcanzó hasta para comprar una vitrina con la que inició su negocio de venta de variedades. Sus ingresos fueron superiores y su negocio así mismo creció. Ella da el siguiente mensaje: “Agradezco a mis patrocinadores por apoyarme con ese crédito; gracias a él he salido adelante. “ En la actualidad se prepara para un nuevo credikiva con el cual comprará muchas más materias primas como aceite, maíz y cárnicos y tambien surtirá su vitrina con mercancias variadas, porque es época de fiestas y el consumo de sus clientes se hace mucho mayor y ella debe responderá sus expectativa para continuar haciéndolos fieles y aumentar también su capital de trabajo, para ganar mucho mas y esto lo conseguirá gracias a Kiva y la disponibilidad de sus fondos para crédito.

Previous Loan Details

Andrea is applying for her second Kiva loan. With her previous loan she bought assorted goods, sheets, towels, and small domestic appliances. Her capital increased slightly. This time she will use her new Kiva loan for shoes and assorted goods in greater quantity. She has some savings that ... More from Andrea'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
  • 470
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,767.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $575 helped Andrea to buy supplies and ingredients.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 17, 2012
Listed
Jan 2, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 19, 2013