Vicente is a repeat borrower on Kiva who owns a bakery and a small market. During his first loan Vicente only sold bread, but the $300 loan helped him expand his business. He was able to buy the raw materials for his baking operation at greatly reduced prices. With the profits from his bakery he eagerly reinvested in his business. He purchased a new refrigerator, bought complimentary goods to sell and now has a full fledged market where he sells a wide variety of products including his fresh bread. He is reapplying for a second loan in order to buy ingredients for Pan de Pascua (Christmas bread) which is very popular during the holiday season. These ingredients include: flour, sugar, yeast, dried fruit and nuts. He will also continue investing in complementary products to sell at his market.
Mifex offers its clients microinsurance and access to business training and educational programs. For more information about microfinance, Ecuador, and our services, please visit www.mifex.org.
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Success!! The loan was 100% repaid