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Nelson

Update on Nelson

Nelson used his previous Kiva loan to buy a glass showcase, which has worked well and earned him many more customers.

Now he is applying for another Kiva loan that he will use to buy wheat flour, sugar, oil, fats and other products with which he will make delicious baked goods. His goal is to make baked goods that will capture the attention, interest and purchases of many potential customers.

Nelson sends a message to his financial backers: “Thank you for the assistance you have given me, and I hope that you will continue to support me and other microentrepreneurs.”
View original language description ↓
Nelson con su anterior credikiva compró una vitrina exhibidora, que surtió y ganó mucha mas clientela. En la actualidad está aplicando aun nuevo credikiva, con el cual comprará harina de trigo, azúcar, aceite, grasas y otros, con lo que preparará deliciosos productos de panificación, que captarán la atención, el interés y la acción de compra de muchos compradores potenciales, pues esta es su meta. Él envía un mensaje a sus financiadores: “ Gracias por la colaboración prestada, y que me sigan apoyando a mi y a otros microempresarios. “

Previous Loan Details

Nelson, 58, lives in the city of Cartagena with his spouse. He has six children, ages 7 to 32, and he dreams of seeing them become successful people. He has worked for 40 years in the bakery business, a trade he learned when he was an employee of a nearby business. He began his own business ... More from Nelson'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
  • 492
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,777.8
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $850 helped Nelson to buy wheat flower, sugar, oil, fats and other products with which he will make delicious baked goods.
99% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 21, 2013
Listed
Jan 30, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014