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Aroldo

Update on Aroldo

With his previous loan, Aroldo bought three washing machines, basic materials, and cooking ingredients such as oil, corn, cheese, and meat. That investment was very successful, and now he is requesting another loan from the Fundación Ario Santo Domino to increase his working capital. With this loan, Aroldo will buy four additional washing machines, because his clientele continues growing at such a rate that sometimes he is not able to respond to the demand for his machine rentals. Aroldo will invest another part of the loan in basic equipment and ingredients to help him increase his production of food items. This will help him to increase his earnings, which enables him to help his family and improve their well-being.
View original language description ↓
3 Máquinas lavadoras de ropa y materias primas e insumos alimenticios como aceite, maíz, queso y carne, son los requerimientos por los cuales Aroldo hizo el anterior credikiva y en eso justamente lo invirtió. Con ello le fue muy bien y hoy busca nuevamente aumentar su capital de trabajo y por eso acude a un nuevo financiamiento con la Fundación ario Santo Domingo, con el cual comprará 4 lavadoras más, porque su clientela continua en crecimiento, llegando muchas veces a no responder su demanda del servicio de alquiler de maquinarias. También invertirá la otra parte de su crédito, en materias primas e insumos, con los cuales aumentará su producción de alimentos e incrementará también, sus otros ingresos por concepto de este negocio y ello resulta ser muy bueno para su grupo familiar, porque Aroldo continua ofreciendo cada vez mejores opciones de bienestar a los suyos.

Previous Loan Details

Aroldo is a 53 year old man, who lives in Puerto Colombia, with his wife and 3 children aged 24 to 28 years. In this place located at the edge of the Caribbean, Aroldo provides quality cleaning machines for hire, to housewives, so that they can do their chores faster and be more efficient with th... More from Aroldo'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
  • 280
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,765.1
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $700 helped Aroldo to buy four washing machines, basic materials, and cooking ingredients.
99% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 11, 2013
Listed
Jan 14, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014
This photo was used before for a previous loan for Aroldo. It was first posted on Kiva on Dec, 2011. Learn More