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Marta

Update on Marta

Thank you for supporting Martha with her Kiva loan, which she invested in supplies, which she used to prepare delicious desserts that sold quite quickly. With this funding, she mobilized even more clients, and she has now been asked to direct her business to food sales. Through this, she is now obtaining new sources of income, and has been able to make improvements to her home.

To her lenders, she says, "Thank you for the loan, which has been very beneficial for me. I hope that you continue to support me." She is now applying for a new Kiva loan, which she will use to buy supplies such as rice, oil, dairy products, sugars, fats, etc. to increase her production of foods and desserts, taking advantage of the fact that the year is coming to an end and her sales will be even more greatly affected. The investment of her Kiva loan is successful, in that it comes while she is collecting money from her accounts receivable and giving immediate response to her demanding clientele.
View original language description ↓
Gracias por apoyar a Martha con su credikiva, que invirtió en insumos, con los que preparó ricos postres y los vendió muy pronto. Con este financiamiento, movilizó aun más clientela y ahora han solicitado que dirija su negocio a la venta de comidas, con lo que hoy, está obteniendo nuevos ingresos, y ha logrado mejorar su vivienda. Ella dice a sus financiadores: “Gracias por el préstamo, que me ha beneficiado mucho, espero me sigan apoyando.” En la actualidad está aplicando a un nuevo credikiva, mediante el cual comprará, insumos como arroz, aceite, lácteos, azucare, grasas, etc. para aumentar la producción de comidas y postres, aprovechando que se acerca la época de fin de año y con ello sus ventas se impactarán aun más. La inversión de su credikiva es exitosa, en tanto a que la realiza mientras recoge el dinero de sus cuentas por cobrar y da respuesta inmediata a su exigente clientela.

Previous Loan Details

Marta works selling cheese, cold meats, desserts, and cosmetics, though the catalogue of a business with which she is affiliated. This business offers her the catalogue and the products so that she can carry out her work promoting and selling. With her previous Kiva loan, she was able to buy a gr... More from Marta'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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 161
    View loans »
    Colombia Loans Fundraising
  • $13,194,000
    Funds lent in using Kiva
  • 1,879.9
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $750 helped Marta to buy supplies such as rice, oil, dairy products, sugars, and fats.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 21, 2013
Listed
Oct 27, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 20, 2014