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Luis Alexander
In the city of Bogota there is an area called Candelaria with beautiful historic city buildings, houses, museums and narrow cobblestone streets where small and large jewelry stores are found, as well as other types of shops. This is the physical location where Luis C. O., 28, lives with his wife and 4-year-old son, and where he works buying and selling precious metals such as gold and silver. He has been here for the last three years when he left his job as an employee in a jewelry store and went out on his own as a means of becoming self-supporting.

His business is based on buying and selling gold and silver by the gram bought from scrap merchants and suppliers, and that's how he makes his profit. As always he needs available cash to be able to take advantage of the opportunities of the price fluctuations in the market of these metals. He is requesting a loan from the Mario Santo Domingo Foundation which he will use to buy gold and silver from the recyclers and scrap merchants who are his best suppliers.

His dream is to continue his university studies but first he must succeed in becoming financially solvent with his jewelry business. His most important goal is to spend time with his family but each day that is becoming more difficult.
View original language description ↓
En la ciudad de Bogotá hay un sector histórico llamado la Candelaria con hermosas construcciones patrimonio de la ciudad, casas, museos y callejones empedrados que albergan pequeños y grandes almacenes de joyas además de otros negocios que también coexisten. Este es el ambiente físico donde está instalado Luis C. O., de 28 años de edad, con su esposa y su hijo de 4 años, dedicado a la compra y venta de metales preciosos como oro y plata, desde hace tres años cuando se independizó de su trabajo como empleado en una joyería y emprendió la suya propia como alternativa de autosostenimiento.
El negocio de Luis se basa en la compra y venta de oro y plata por gramo, que hace a chatarreros y diferentes proveedores, en cuya transacción genera su utilidad; como siempre requiere efectivo disponible para aprovechar las oportunidades del mercado y fluctuaciones del precio de estos metales, está solicitando su primer crédito a la Fundación Mario Santo Domingo el cual invertirá en la compra de material de oro y plata a recicladores y chatarreros que son su mejores proveedores.

Su sueño es continuar sus estudios universitarios, pero antes debe lograr una solvencia económica aceptable a través de su trabajo en la joyería. Su desafío más importante es compartir tiempo con su familia ya que cada día se torna más difícil lograrlo.

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
  • 277
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,985.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Luis Alexander to buy gold and silver.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 28, 2010
Listed
May 11, 2010
Currency Exchange Loss:
Covered
Ended:
May 15, 2011