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German
German is very grateful to Kiva donors and hopes to continue working with resources provided by the organisation because, with his previous loan, he bought materials for making footwear and handicrafts which he sold very soon. He now runs his business in a more organised way, has no debts with informal moneylenders who lend money at high rates, and feels relaxed because his income has risen and he has been able to gradually use his earnings to make improvements to his home. He is now applying for a new loan which he plans to use to pay for handicrafts which he has on order and to finish repairs on his home. His investment looks set to be successful because it will be made just when it is most needed - December is coming which means he can expect orders from the tourists who are around where he has his business.
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German está muy agradecido con los financiadores de Kiva y espera continuar trabajando con recursos de esa entidad, porque con su anterior crédito, compró materiales para elaborar calzado y también artesanías que muy pronto vendió. Hoy tiene mas organización en su trabajo, no tiene deudas con prestamistas informales, que prestan dinero a altas tasas y se siente mas tranquilo, porque sus ingresos se incrementaron y sus utilidades las ha dirigido poco a poco a el mejoramiento de su vivienda. En la actualidad está aplicando a un nuevo financiamiento el cual planea invertir en la compra de artesanías que tiene encargadas y necesita completar la adecuación de su vivienda. Su inversión proyecta ser exitosa porque justamente la hará en el momento en el que mas lo necesita, pues llega diciembre y con ello los pedidos de los clientes turistas, que rodean su negocio.

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.

About Colombia

  • $6,070
    Average annual income
  • 303
    View loans »
    Colombia Loans Fundraising
  • $13,782,800
    Funds lent in using Kiva
  • 1,933.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,575 helped German to pay for handicrafts which he has on order and to finish repairs to his home.
94% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 11, 2013
Listed
Nov 12, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2015