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Maria

Update on Maria

Thank you for supporting María in her clothes making business because she increased her ability to buy raw materials and supplies and a sewing machine. She used her Kiva loan to recharge her business giving her clothes better finishing touches and quality and she also improved her production time.

María says that Kiva’s been a blessing for her because she’s been able to finance her business with the loans. She’s currently applying for a new loan to buy raw materials and supplies to respond to orders for sports and school uniforms that she sells on credit. This will be a successful investment because it encompasses customer orders that she must respond to.
View original language description ↓
Gracias por apoyar a Maria en su negocio de confecciones, porque aumentó la posibilidad de comprar materias primas e insumos y una máquina de confeccionar. Con el credikiva, repotenció su negocio, dando un mejor acabado y calidad a sus prendas y mejoró sus tiempos productivos. Maria dice que Kiva ha sido para ella una bendición, porque con los préstamos ha podido financiar su negocio. En la actualidad está aplicando a un nuevo financiamiento, con el cual comprará materias primas e insumos, para responder pedidos de uniformes deportivos y escolares, que los vende financiados. Está será una inversión exitosa porque se enmarca en pedidos de su clientela, a la cual debe fortalecer penantemente.

Previous Loan Details

Maria, 42 years old, makes women's clothing. She also makes home linens and curtains. She lives south of the city with her husband and her daughter, 20 years old, whom she dreams of seeing become a successful professional. Her business idea was inspired by her parents when she was very young, and… 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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 183
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,879.9
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,600 helped Maria to buy sewing supplies.
92% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 22, 2013
Listed
Oct 25, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015
This photo was used before for a previous loan for Maria. It was first posted on Kiva on Nov, 2012. Learn More