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Luis German

Update on Luis German

Luis bought many supplies such as a professional hairdryer and a flattening iron with which he stocked up his hair salon located in the town of Cartagena de India. He currently has more customers, because with the new hairdryer and flattening iron he offers his clientele a higher quality work. These conditions are satisfactory for him because he used to serve only male customers, and the female clientele is very good and results in better profits. He tells his Kiva lenders: "Thank you for contributing a grain of sand towards the accomplishment of my goals, so that someday I may own a huge salon". He has recently approached Fundación Mario Santo Domingo in order to apply for a new Kiva loan, because he wishes to keep on growing through his own efforts. With this loan he'll purchase new machines for trimming and shaving hair in order to replace the old ones that he's been using. That way he'll once again make an impact on his customers and keep them very loyal.
View original language description ↓
Luis compró muchos insumos con los que surtió su peluquería ubicada en la ciudad de Cartagena de Indias, un secador profesional y una plancha. Ahora tiene mas clientes, pues con secador nuevo y plancha ofrece a su clientela un trabajo con mayor calidad y en condiciones satisfactorias para él, porque antes atendia solo a hombres y la clientela de mujers es muy buena y obtiene mas ingresos. El dice a sus financiadores de Kiva: "Gracias, por aportar un granito de arena para que mis metas se esten cumpliendo, para algun dia tener una peluquería gigante. " En la actualidad se ha acercado a la Fundación Mario Santo Domingo, para aplicar nuevamente a un credikiva, porque quiewre seguir creciendo de su mano. Con este finaciamiento comprará maquinas nuevas para motilar y para la afeitada, reemplazando así, las ya obsoletas que estaba usando y con ello impactar una vez mas a su clientela y hacerla muy fiel.

Previous Loan Details

Luis is 56 years old and lives in the city of Cartagena and has a 16 year old son. He is the owner of a miscellaneous shop and a hairdresser/barbershop where he offers personal image improvement for men, women and children; at the same time he sells his miscellaneous beauty products and accessori... More from Luis German'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
  • 481
    View loans »
    Colombia Loans Fundraising
  • $15,253,675
    Funds lent in using Kiva
  • 1,777.8
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $625 helped Luis German to purchase new machines for trimming and shaving hair.
99% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 25, 2013
Listed
Jan 30, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014
This photo was used before for a previous loan for Luis German. It was first posted on Kiva on Dec, 2011. Learn More