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Milena Johana
One year ago, 27 year-old Milena was looking for ways of making additional income. She established her business selling handicrafts from San Jacinto, in Bolivar department. Here they make handicrafts such as hammocks, bags and knitted items with special painting techniques which are only made with such commitment and good taste in this particular town.

Milena started out with only a little bit of capital and a very small quantity of handicrafts but she found a big consumer market in Soledad which is where she lives with her two children aged 7 and 4 and where her business grew both in terms of number of customers and in infrastructure because she now displays the handicrafts in display cases in the living room of her home. Her main goal is to have independent premises where she can display and sell her products. She would like to have a specialized retail outlet for arts from Los Montes de Maria.

Milena is applying for her first loan with Fundación Mario Santo Domingo and it is a Kiva loan which she will use to buy beautiful musical mobiles adorned with flowers, hammocks, traditional sandals and coffee tables. Her average sales are 2,743,857 Colombian pesos. Her debt (with the loan) would be 35.4% and she maintains a profitability of 31%. Her accounts receivable turnover is every 18 days and her inventory turnover is every 23 days. She will use her loan to increase her working capital and, consequently, her profits because the sales seasons for these products which are very much in demand with families in Soledad are approaching.
View original language description ↓
Hace ya un año Milena de 27 años, buscando alternativas de ingresos adicionales cré su negocio de comecializar artesanias provenientes de San Jacinto en el departamento de Bolivar donde hacen manualidades como hamacas, bolsos y tejidos con tecnicas especiales de pintura que solo en este municipio hacen con tanta dedicación y buen gusto. Ella inició con poco capital y unas cantidades muy pequeñas de artesanias pero encontró un gran mercado de consumo en Soledad, lugar donde vive con sus dos hijos en las edades de 7 y 4 años, y donde su negocio creció en número de clientes y en infraestructura porque ahora exhibe las artesanias en sus vitrinas en la sala de sus casa. Su principal meta es tener un local independiente a su vivienda donde exhibir y vender sus productos como punto de venta especializado en arte de los Montes de Maria. Milena está aplicando a su primer financiamiento con la Fundación Mario Santo Domingo y es justamente un credikiva con el cual comprará hermosos colgantes de sonidos adornados con flores, hamacas, sandalias tipicas y mesas de centro. Sus ventas promedio son $ $2.742.857 COP su endeudamiento con el credito sería de 35,4% y mantiene una rentabilidad del 31%, mientras sus cuentas por cobrar rotan cada 18 dias y su inventario cada 23. Con su credito augura el aumento de sus capital de trabajo y por consiguiente de utilidades porque se acercan las temporadas de ventas de estos productos muy apetecidos por las familias soledeñas.


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

  • $11,100
    Average annual income
  • 571
    View loans »
    Colombia Loans Fundraising
  • $14,881,725
    Funds lent in using Kiva
  • 1,912.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Milena Johana to buy beautiful musical mobiles adorned with flowers, hammocks, traditional sandals and coffee tables.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 26, 2010
Listed
Nov 30, 2010
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2012