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Maria Lorenza

Update on Maria Lorenza

Thanks for supporting María. With her previous Kiva loan she was able to buy flour, salt, and butter wholesale to make the rolls she sells to stores and food businesses. She also bought an industrial stove that allowed her to improve her productivity, as well as clothing, perfume, and footwear that her customers had ordered.

With this investment she improved her productivity level, sales volume, and liquidity. In other words, she had more income and a better quality of life for her family.

Currently she's applying for a new loan to invest in making a wholesale cash purchase of flour, salt, butter, and containers to make rolls. She's also going to buy clothing, perfume, footwear, and lotions to respond to customer requests.

María says to her lenders: "Thanks to Fundación Mario Santo Domingo and Kiva I have made progress in my business. I hope to continue having your support."
View original language description ↓
Gracias por apoyar a María, quien con su credikiva pudo comprar harina, sal, mantequilla al por mayor para la elaboración de los bollos que vende a tiendas y negocios de comidas; también compró una estufa industrial que le permitió mejorar su productividad, y además compró ropa, perfumes, calzado que le solicitaron los clientes. Con esta inversión logró mejorar su nivel de producción, volumen de ventas y liquidez, es decir, mayores ingresos y mejor calidad de vida para su familia. En la actualidad está aplicando a un nuevo crédito para invertir en la compra al por mayor y al contado de harinas, sal, mantequilla, recipientes, para la elaboración de bollos, y en la compra de ropa, perfumes, calzados y cremas para atender los pedidos de sus clientes. María dice a sus financiadores: “Gracias a la Fundación Mario Santo Domingo y a KIVA he progresado en mi negocio; espero seguir contando con su apoyo”.

Previous Loan Details

María is 72, married, and has six children, ages 31 to 45. She lives south of the city of Barranquilla, and prepares and sells bollos, a snack made of ground corn wrapped in corn husks, that she prepares with cheese or aniseed and offers to her customers, who have stores and small businesses sell... More from Maria Lorenza'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
  • 187
    View loans »
    Colombia Loans Fundraising
  • $13,230,600
    Funds lent in using Kiva
  • 1,906.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Maria Lorenza to buy ingredients for rolls and other merchandise.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 7, 2013
Listed
Jun 16, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014