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Samuel

Update on Samuel

Samuel, a restaurant owner, previously received a Kiva loan which he used to purchase kitchenware, tables and chairs, expanding the possibility that new customers might come to his establishment, and this is exactly what happened.

Today he is very happy and for this reason he is applying for a new Kiva loan. With the new loan he will buy supplies for food preparation, such as rice and meat oil. With this purchase he hopes to gain discounts for purchasing in cash and in greater volume, thereby reducing his costs and increasing his profits - a direct result of your investment in Kiva.

Since receiving his Kiva loan he has had a greater influx of customers and he has improved his family income. He says to his Kiva lenders, "Thank you for permitting me to improve my business."
View original language description ↓
Samuel, propietario de un restaurante, accedió en el pasado a un credikiva con el que compró menaje de cocina, mesas y sillas, ampliando la posibilidad de que nuevos clientes llegaran a su establecimiento y esto fue lo que justamente ocurrió. Hoy está muy satisfecho y por eso está aplicando aun nuevo credikiva, con el cual comprará, insumos para la preparación de alimentos, como arroz, aceite cárnico, con esta compra espera ganar descuentos por hacerla de contado y en mayor volumen y obtendrá una reducción de sus costos que aumentarían sus utilidades y esto es justamente el éxito de su inversión de Kiva. Desde que recibió su credikiva tiene más afluencia de público y ha mejorado sus ingresos familiares. Él dice a sus financiadores de Kiva “Gracias por haberme permitido mejorar mi negocio. “

Previous Loan Details

Samuel, who is 65 years old, lives in the Los Robles residential area. He is a pensioner, and four years ago he entered the restaurant business with his wife and an assistant. His Restaurant Yoly is in the living area of his property, where he lives with his wife, and he has three children, ages ... More from Samuel'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
  • 285
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,784.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,125 helped Samuel to buy supplies for food preparation, such as rice and meat oil.
99% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 5, 2013
Listed
Feb 13, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014