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Luis Alfonso

Update on Luis Alfonso

Luis bought produce wholesale with his previous Kiva loan and obtained special discounts. This was good for his business and was thanks to Kiva. Right now, he is applying for a new loan. With it, he will buy prepared meals, produce, and meat. This way, he will have a bigger selection for the busiest time of the year, the month of December. That is why his investment will be successful, and that is why he tells his Kiva investors: "Thank you, keep supporting the micro-businesses of Barranquilla, since we are meeting some goals that we had."
View original language description ↓
Luis con su anterior credikiva compró víveres en mayor cantidad y ganó descuentos especiales, lo cual favoreció su negociación y esto fue gracias a Kiva. En la actualidad está aplicando a un nuevo financiamiento, con el que comprará ranchos, víveres, cárnicos, así tendrá un mejor surtido, para la época de mayor movimiento comercial del año: “el mes de Diciembre”. Esta es la razón por la cual tendrá éxito su inversión, por eso dice a sus financiadoras de Kiva: “ Gracias, sigan apoyando a los microempresarios de Barranquilla, ya que estamos cumpliendo algunos objetivos que teníamos. “

Previous Loan Details

Luis, 50, lives in Soledad with his spouse and two children who are 9 and 13 years old. He owns a store called “Tienda El Patrón” that arose years ago when he needed to help his mother. This is how he first called upon informal, high cost loans but as he gradually came out from under these debts… More from Luis Alfonso'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
  • 176
    View loans »
    Colombia Loans Fundraising
  • $13,077,075
    Funds lent in using Kiva
  • 1,761.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $875 helped Luis Alfonso to buy prepared meals, produce and meat.
99% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 21, 2012
Listed
Jan 5, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 19, 2013