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Luis Daniel

Update on Luis Daniel

Thank you for supporting Luis. With his previous Kiva loan he bought merchandise in response to his customers’ expectations and needs. With his loan he was able to leverage his business and increase his sales, profits, and working capital. He used this to reinvest, and he was able to improve his living conditions.

He traveled with his mother to another city, and he reunited with his family. His business has grown and is much stronger. That is why he sends the following message to his Kiva lenders, “It is with unending gratitude that I thank you for your work of supporting people like me with scarce resources. Thanks to the loans we are able to have to opportunity to progress”.

He is currently applying for a new Kiva loan. He will use the loan to buy varied merchandise. He will also perform maintenance and repair the display cases at his place of business in order to give it a better presentation. This way, his merchandise on display will be more appealing to his clientele. This is the factor that will make this investment successful.
View original language description ↓
Graacias por apoyar a Luis, quien con su anterior credikiva compró mercancia con la cual respondio a las expectativas y necesidades de su clientela; el con su credito pudo apalancar su negocio, incrementar sus ventas, utilidades y capital de trabajo y esto se reinvirtió en que se pudo mejorar sus condiciones de vida, viajó a otra ciudad con su madre y se reencontró con su familia. Su negocio ha crecido y está muy fortalecido por eso envia el siguiente mensaje a sus finaciadoes de Kiva " es de infinitos agradecimientos, y gratitud, por la labor de apoyar a las personas como yo, de escasos recursos, y que gracias a los préstamos podemos tener la oportunidad de progresar. " En la actualidad está aplicando a un nuevo credikiva con el cual comprará mercancias variadas, y hará mantenimiento y reparación de vitrinas y del local comercial para darle una mejor presentación y así su mercancia exhibida será mas apetecida por su clientela., lo cual es el factor de éxito de esta inversión.

Previous Loan Details

Luis is 50 years old. He started his business ten years ago together with his mother when he arrived in this city from Bogotá, the capital of Colombia, and set up a general store as his sales location. He also distributes merchandise all over the city to customers who pay on credit. Through this… More from Luis Daniel'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
  • 183
    View loans »
    Colombia Loans Fundraising
  • $12,852,400
    Funds lent in using Kiva
  • 1,850.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,750 helped Luis Daniel to buy varied merchandise, to perform maintenance, and to repair the display cases.
99% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 19, 2013
Listed
Apr 20, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014