Update on BeatrizThank you for supporting Beatriz who used her previous Kiva loan to buy materials such as rubber, fique fiber, insoles and packaging material wholesale and for cash. She used these materials to make footwear which she later sold. Her Kiva loan allowed her to increase her working capital, increase her sales and make more profit from her business. Motivated by this experience, she is now applying for a new loan through Kiva. She will use the new loan to buy larger quantities of rubber, fique fiber, insoles and packaging materials which she will use to make more footwear to sell for Mothers Day. This is a time of year when women and mothers get together, receive gifts and dress up to celebrate the loving and worthy work they do, together with their families. Beatriz will have the best designs available for her customers so that they can all enjoy the footwear that they have ordered from her and have a wonderful time together with their loved ones. Beatriz, meanwhile, will make income which will benefit her household.
Previous Loan DetailsBeatriz is 25 years old and lives south of the city, where she makes a living designing and selling shoes and handbags; she sells them both wholesale and retail. Her business is based out of her apartment. She purchases materials for her business such as rubber, fique fiber, micro suit fabric,… More from Beatriz's previous loan »
About Fundación Mario Santo DomingoFundación 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.
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Success!! The loan was 100% repaid
- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- Apr 17, 2013
- Apr 20, 2013
- Currency Exchange Loss:
- Aug 30, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.