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Olga

Update on Olga

Thank you for supporting Olga who used her CrediKiva loan to makefor better purchases and to make bags and back-packs that her customers liked very much. She has been working more easily because she had the materials to increase her hammock, bag and back-pag production to supply to her clients.

Olga sends the following message to Kiva lenders; "Thank you, the loan was very helpful to me and I hope to continue receiving your support." Currently, she is requesting a new loan to buy new crafts to add to her native products line, such as the typical arhuaco back-pack (from the indians that live in Sierra Nevada in Santa Marta) and back-pack accessories that are in fashion and sell very quickly. This will make her CrediKiva loan investment successful.
View original language description ↓
Gracias por apoyar a Olga, quien con su credikiva pudo hacer mejores compras, fabricando bolsos y mochilas que mucho gustaron a su clientela. Ella ha trabajado con mas facilidad, porque teniendo materiales pudo aumentar su producción de hamacas, bolsos y mochilas para proveerles a su clientela. Olga envía el siguiente mensaje a sus finaciadores: "Gracias, el crédito me sirvió de mucho y espero seguir contando con su apoyo. " En la actualidad está aplicando a un nuevo credikiva, con el cual comprará nuevas artesanías, que agregará a sus nativos productos, como mochilas tipo arhuaco (indígenas que habitan la Sierra Nevada de Santa Marta)y accesorios para las mochilas que están muy de modas y se venderán muy rápidamente, haciendo de su nuevo credikiva una exitosa inversión.

Previous Loan Details

Olga, 59, is a widow and a mother of four children between 22 and 30 years old. She inherited her late husband’s business of selling handmade products and raw materials for making crafts such as hammocks and bags. The business also sells thread, wire, string, and other things to customers and… More from Olga'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
  • 192
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,832.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,650 helped Olga to buy new crafts to add to her native products, such as typical aruako back-packs and accessories.
99% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 22, 2013
Listed
Apr 28, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014
This photo was used before for a previous loan for Olga. It was first posted on Kiva on Sep, 2012. Learn More