Check out some available loans that are similar to this one!
Luz Mary

Update on Luz Mary

Luz Mari has a message for Kiva donors: “Thank you for all the support you give to Colombia’s business people.” All is going well, and with her previous loan from Kiva she bought food items which have the greatest turnover and generate immediate income. Now Luz is applying for another loan to buy cleaning products and more food items to stock her store which constantly needs replenishing. The money helps her run a successful business because she buys products that sell quickly. Through buying in volume she is able to get discounts and generate more income.
View original language description ↓
Luz Mari Dice a los finaciadores de Kiva " Gracias por el apoyo total a los empresarios de Colombia. " a ella con su anterior credikiva le fue muy bien pues compró víveres que son los articulos de mayor rotación en su negocio y generó utilidades inmediatas. Ella hoy está aplicando aun creidkiva, con el cual comprará productos de aseo y nuevamente agregará víveres, para aumentar su caital de trabajo y responder efectivamente a la rotación de sus inventarios que cada vez es ams rápida. Esta inversión de credikiva se convierte en exitosa porque la aplica en la compra de productos que se venden rapidamente y que comprandolos en volumen adquiere descuentos que van a su bolsa de utilidades.

Previous Loan Details

Luz Mary bought a display case and merchandise with her previous Kiva loan, which helped her grow. She also bought beer, food, sugar, and other food basket products. She has a store located in her in-laws’ home and things are going well for her. She is asking for a new Kiva loan so she can buy... More from Luz Mary'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
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,194,000
    Funds lent in using Kiva
  • 1,834.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $825 helped Luz Mary buy food items in volume and cleaning supplies.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 9, 2013
Listed
May 17, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014
This photo was used before for a previous loan for Luz Mary. It was first posted on Kiva on May, 2012. Learn More