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Update on Gustavo

With his previous Kiva loan, Gustavo was able to improve his infrastructure and his sales by purchasing a larger volume of soft drinks and candy. This produced a good turnover and he was able to reinvest. Thanks to his new income resulting from the loan, his family felt much better and he says to his Kiva supporters: “A thousand thanks to all of you for your good intentions towards the small business owners.”

Now, Gustavo is applying for a new Kiva loan, to be used for purchasing merchandise such as clothing, shoes, beer, soft drinks, and new cell phone plans. His investment will be successful because he possesses a large capacity for work, and has the experience and the market demand, plus much desire to triumph.
View original language description ↓
Para Gustavo con su credikiva anterior logró mejorar su infraestructura y sus ventas, porque compró en mayor volumen refrescos, bebidas y dulces que rotó fácilmente y reinvirtió. Gracias a sus ingresos nuevos efectos del crédito su familia se siente mucho mejor y dice a sus financiadores De Kiva : “ Mil gracias a todos ustedes por las buenas intenciones con los pequeños empresarios.” En la actualidad está aplicando a un nuevo credikiva, con el cual comprará mercancías, como ropa, calzado, cervezas, gaseosas y nuevos planes de celulares. Su inversión será exitosa, porque posee gran capacidad de trabajo, experiencia, un mercado que demanda y muchas ganas de triunfar.

Previous Loan Details

Gustavo is a very joyful 64 year old man that lives with his partner and has three children between 25 and 30 years of age. His family is his great motivation and is the reason why he continues to work hard. In the Carrizal neighborhood in the city of Barranquilla, Gustavo has a business where he... More from Gustavo'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
  • 304
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,804.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Gustavo buy merchandise such as clothing, shoes, beer, soft drinks, and new cellular phone plans to sell.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Feb 8, 2013
Feb 25, 2013
Currency Exchange Loss:
Jan 17, 2014