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Maria

Update on Maria

María has a business making and selling rolls. She was supported by Kiva in the past. It went very well for her because she was able to buy a mill, which facilitated her production process. She also worked more effectively.

Today María's business is more productive. She increased her sales and her income. This is why she says to her Kiva lenders: "Thanks to the Kiva people for allowing me to expand my business."

Currently she's applying for a new loan to buy an industrial stove and various implements to make her process even more productive. This is precisely the success of a Kiva loan.
View original language description ↓
Maria con su negocio de producción y venta de bollo, fue apoyada por Kiva en el pasado y le fue muy bien pues con este financiamiento logró comprar un molino que le facilitó el proceso productivo y así mismo su labor fue más efectiva. Hoy su negocio es mas productivo, aumentó sus ventas y con ello aumentó el volumen de sus ingresos. Por eso dice a sus financiadores en Kiva : “ Gracias a la gente de Kiva por permitirme hacer crecer mi negocio. “ En la actualidad está aplicando a una nueva financiación con el cual comprará una estufa industrial e implementos varios, que le facilitarán aun más su proceso productivo y esto es justamente el éxito de un credikiva. “

Previous Loan Details

Maria, who is 71 years old, lives in the municipality of Soledad. She is a widow who has 2 children, now aged 41 and 45. Aided by her daughter, she runs a business that was launched 22 years ago in a different municipality where Maria used to live. It is now located 15 minutes from her present… More from Maria'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
  • 138
    View loans »
    Colombia Loans Fundraising
  • $12,792,775
    Funds lent in using Kiva
  • 1,919.4
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,325 helped Maria to buy an industrial stove and implements.
97% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 9, 2013
Listed
Sep 17, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015