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Maria Del Rosario

Update on Maria Del Rosario

Maria used her last Kiva loan to purchase fabric, trimming, buttons, needles, and other supplies. Thanks to this investment, her inventory, her production and the image of her business improved, which gave her a better quality of life. Her message of thanks to the lenders for their support is the first that Maria has expressed.

Today she is requesting a new Kiva loan to purchase fabric, buttons, and trimming, since she needs to increase her production to continue growing.
View original language description ↓
Tela, pellon, botones, hilos y mucho mas, fue lo que compró Maria con su anterior credikiva. Gracias a esta inversión sus inventarios mejoraron y así mismo la producción e imagen del negocio repercutiendo este hecho en una mejor calidad de vida. Su mensaje de agradecimiento para los finaciadores por el apoyo prestado es lo primero que Maria ha expresado. Hoy está aplicando a un nuevo credikiva mediante el cual comprará tela, botones, pellon, pues necesita una vez mas, aumentar su producción para continuar creciendo.

Previous Loan Details

Maria is 60 years old and owns a fabric store. She has a workshop in her home in the town of Malambo. She learned this profession when she was young, and through making dresses for her friends she slowly built up experience and created her own customer base, until she turned this activity into a ... More from Maria Del Rosario'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

  • $11,100
    Average annual income
  • 529
    View loans »
    Colombia Loans Fundraising
  • $14,933,525
    Funds lent in using Kiva
  • 1,922.8
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $550 helped Maria Del Rosario to purchase supplies to sew clothing.
98% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2014
Listed
May 25, 2014
Currency Exchange Loss:
Possible
Ended:
Nov 20, 2014
This photo was used before for a previous loan for Maria Del Rosario. It was first posted on Kiva on Mar, 2013. Learn More