Update on CayetanoCayetano in his carpentry business offers the services of maintenance of doors and windows and staining and refinishing of dining room sets, etc. His sales are made in cash to boat owners on a weekly basis, for which he works a 12 hour day.
He received a Kiva loan previously through the Fundación Mario Santo Domingo, which has permitted improvement to the infrastructure of his premises and his goal going forward is to continue improving his services with a well fitted out facility.
He is currently applying for a new Kiva loan financing through Fundación Mario Santo Domingo, permitting him to customize doors, windows, and living area sets in order to earn a little more money and expand his home.
Previous Loan DetailsCayetano is 75 years old. He is the owner of a carpentry shop located in the city of Cartagena, where he lives with his wife and seven children who are between the ages of 25 and 51. He began learning his trade when he was 14 years old, from a carpenter who he helped at that time. From there, he ... More from Cayetano'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 29, 2013
- May 30, 2013
- Currency Exchange Loss:
- Apr 23, 2014
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.