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Update on Jaime

With his previous loan from Kiva, Jaime bought tobacco products and soft drinks. He supplied his stationary stand with these to reduce his costs and increase his profit.

This made him think about applying for another loan to continue investing in larger volumes of these products. This way he will save money since the prices the suppliers offer are competitive. This is because of the loan from Kiva.

He has the following message for Kiva’s lenders:
“Thanks a lot for the financial support that you offered to my business. Hopefully, you will continue to do so such that I can educate my children and have my own house.”
View original language description ↓
Jaime con su anterior credikiva compró productos de cigarrería y refrescos con los que surtió su punto comercial, redujo costos e incrementó sus utilidades. Esto lo hizo pensar en acceder a un nuevo crédito para volver a invertir en un mayor volumen de estos productos, con los cuales ahorrará, pues los precios de compra que le ofrecen sus proveedores son competitivos y esto se lo debe a su credikiva. Su mensaje a los financiadores de Kiva es el siguiente: “Muchas gracias, por el apoyo económico brindado a mi negocio ojalá sigan haciéndolo para lograr educar a mis hijos y tener mi propia casa: “

Previous Loan Details

Jaime Sánchez Q., age 51, lives with his wife and their four children in the city of Bogotá. He has a stationary stand where he sells cookies, sweets, cigarettes, soft drinks, and juice. He also provides cell phone call service. The business is located in the Chapinero neighborhood close to th... More from Jaime'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

  • $11,100
    Average annual income
  • 243
    View loans »
    Colombia Loans Fundraising
  • $17,876,725
    Funds lent in using Kiva
  • 1,787.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Jaime to buy tobacco products and soft drinks.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 18, 2012
Aug 20, 2012
Currency Exchange Loss:
Dec 15, 2012
This photo was used before for a previous loan for Jaime. It was first posted on Kiva on Jan, 2011. Learn More