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Elvira

Update on Elvira

Elvira tells her Kiva lenders "thank you for providing this help to me and my business." When she previously applied for a Kiva loan, she was able to buy an industrial machine, which has improved her quality and production time. She stopped manually making buttonholes and now uses the machine to make them. Currently, she is applying for another Kiva loan to buy raw materials and supplies because Mother's Day is coming up. This season is largely commercial so Elvira needs to e prepared with products to surprise her customers, and so that mothers of her friends can be dressed elegantly with clothing made in her studio.
View original language description ↓
Elvira dice a sus financiadores de Kiva “Gracias por prestarme esa ayuda a mi y a mi negocio” Ella cuando aplicó anteriormente a su credikiva logró comprar una máquina plana industrial, con la cual ha mejorado sus calidad y os tiempos productivos y pasó de hacer ojales manuales, a usar la máquina para hacerlos. En la actualidad está aplicando aun nuevo credikiva, con el cual comprará materias primas e insumos, porque se acerca la temporada en la que se celebra el día de la madre, época que es eminentemente comercial y Elvira necesita estar preparada con productos para sorprender a su clientela y para que las madres de sus compradores estén elegantemente vestidas con ropa elaborada en su propio taller.

Previous Loan Details

Elvira, 53, lives with her spouse in the city of Barranquilla and has four children whose ages range from 13 to 32. She owns a sewing workshop that she started twenty years ago with a simple sewing machine she remembers having bought on credit for five-hundred thousand Colombian pesos. Init... More from Elvira'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

  • $11,100
    Average annual income
  • 492
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,834.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Elvira to buy raw materials and sewing materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 6, 2013
Listed
May 17, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 18, 2014