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Ericka Patricia

Update on Ericka Patricia

Ericka bought frozen treats and candy with her previous Kiva loan; her sales increased. In this way she has been rotating her working capital and she has many aspirations for growth. She wants to take advantage of the December season to invest in greater volume, get discounts, and offer her products at good prices. This is the reason she has approached Kiva to get a new loan, with which she will buy ice cream, candy, and drinks to make good use of her loan this month. This is the season when many people spend money and her sales usually increase, so her Kiva loan will be a success.
View original language description ↓
Ericka con su previo credikiva, compró Helados, dulces, refrigerios,y vendió un poco mas, así ha ido rotando su capital de trabajo y hoy tiene muchas aspiraciones de crecimiento por eso aprovechará la temporada decembrina para invertir en mayor volumen, ganar descuentos y ofrecer a un buen precio sus productos. Esta es la razón por la cual acude a Kiva, para hacer un nuevo financimiento, con el cual comprará helados, dulcería y refrescos, para hacer de su credito la mejor inversión del año en este mes, época en la cual hay mucho dinero en circulación y sus ventas usualmente se incrementan, para que su credikiva sea todo un éxito.

Previous Loan Details

Ericka is 27 years old and has a soda shop in a neighborhood in the downtown area of the city. She came to Barranquilla from Magdalena when she was 17 years old after she graduated, looking for opportunities to succeed in the city. She first worked as an employee in a soda shop for three years, a... More from Ericka Patricia'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
  • 279
    View loans »
    Colombia Loans Fundraising
  • $13,618,075
    Funds lent in using Kiva
  • 1,767.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $650 helped Ericka Patricia to buy products in quantity.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 6, 2012
Listed
Jan 2, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014