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Hugo Enrique
Hugo Enrique A. R. lives in Barranquilla with his wife and young daughter. He works as a security guard in a building to the north of the city, and he also sells general merchandise. He started this business 2 years ago with a small amount of capital, and gradually his sales grew. Most of his customers are employed as domestics, security guards and construction workers. He provides his customers with 30 to 60 days of credit, and allows them to pay in 2 or 3 installments. This is the second loan that Hugo has taken from the Fundación Mario Santo Domingo, and his first loan with Kiva. He plans to invest the money in the purchase of shirts, pants, jeans, blouses, shoes and perfume. With the end of the year approaching, his orders have increased considerably. His average monthly sales volume is $ 1,000,000 COP and his profit margin is approximately 35%. Hugo states that for him it is an advantage to live very close to his customers, because it allows him to manage his collections effectively and maintain a default rate of 0 percent. In addition, he avoids transportation expenses and saves time because he does not have to travel over long distances. For next year, Hugo plans to buy some metal display cases where he can store and exhibit all of his merchandise, and if things go well, open a small variety store where in addition to clothing, shoes and perfume, he can sell gifts and stationery items.
View original language description ↓
El señor Hugo Enrique A. R. vive en Barranquilla en compañía de su esposa y su hija menor. El labora como vigilante residente en un edificio del norte de la ciudad y alterna este oficio con la venta al detal de mercancías varias. El negocio comenzó hace dos años con un pequeño capital y poco a poco sus ventas fueron aumentando. La mayor parte de su clientela está formada por empleadas domésticas, vigilantes y trabajadores del sector de la construcción a quienes les otorga de 30 a 60 días de plazo para que le paguen en 2 o en 3 partidas. Este es el segundo crédito que el señor Hugo tramita con la Fundación Mario Santo Domingo y su primer Credikiva el que planea invertir en la compra de camisas, pantalones, jeans, blusas, calzado y perfumes. Con la llegada del fin de año, los pedidos se han incrementado considerablemente, así su volumen promedio de ventas mensuales es de $1.000.000 COP y su margen de utilidad es aproximadamente del 35%. El prestatario manifiesta que para él es una ventaja vivir muy cerca de sus clientes porque le permite hacer una efectiva gestión de cobro y mantener una tasa de morosidad del 0%, asimismo, se evita gastos de transporte y tiempo por no tener que recorrer grandes distancias. El señor Hugo planea para el próximo año comprar varias vitrinas metálicas en las cuales pueda almacenar y exhibir toda su mercancía, y si las cosas le salen bien, abrir un pequeño almacén de variedades en el que además de ropa, calzado y perfumes, pueda vender regalos y artículos de papelería.

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
  • 210
    View loans »
    Colombia Loans Fundraising
  • $12,876,400
    Funds lent in using Kiva
  • 1,899.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Hugo Enrique to buy shirts, pants, jeans, blouses, shoes and perfume.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Dec 10, 2010
Listed
Dec 7, 2010
Currency Exchange Loss:
Covered
Ended:
Dec 21, 2011