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Noris Teresa
Noris A. is 53 years old and lives in Ciudadela Metropolitana neighborhood, a self-build project started by Fundación Mario Santo Domingo more than 20 years ago. Noris has a dressmaking business. This skill is traditional in her family and hers became evident when she bought her first sewing machine and started working in the sewing business as a way of making income. This work was not only enjoyable but also enabled her to support her household which is made up of her husband and her son who is currently 21 years old. Noris liked the idea of being her own boss and so she decided to grow her business by taking her first loan through Fundación Mario Santo Domingo. With their help, she managed to increase her purchase volume and ensure that she permanently had products in stock to offer her customers.

This is Noris' second loan and she will use it to buy raw materials and supplies such as threads, buttons, general fabrics, zippers and fleece. With the help of her Kiva loan, she will manage to increase her working capital even more and meet challenges associated with competition from foreign clothes coming from the neighboring country of Panama. She predicts that with the support of her loans she will be able to buy in larger quantities, obtaining better prices and more modern and better-quality fabrics and supplies. She will achieve a level of production that she hopes will enable her to continue maintaining her profit margin of 36%.
View original language description ↓
Noris A. de 53 años es una habitante del barrio Ciudadela Metropolitana, proyecto de autoconstrucción liderado por la Fundación Mario Santo Domingo hace mas de 20 años. Ella se dedica a l oficio de la confección, como es tradicional en su historia familiar, aptitud que se hizo mas notoria, dese que compró su primera máquina y empezó su vida en la costura, como una actividad generadora de ingresos, con la que no solo se distaría y alegraba su vida, sino que apoyaba la gestión de su hogar, conformado por su cónyuge y su hijo actualmente en la edad de 21 años. Esta idea de ser ella misma su “patrona” le gustó a Noris y por eso decidió hacerla crecer, así fue como acudió a su primer financiamiento con la Fundación Mario Santo Domingo , organización con la que logró aumentar el volumen de sus compras y tener inventarios de productos de confecciones que ofrecer permanentemente a sus clientes. Este es su segundo financiamiento, con el cual comprará materias primas e insumos como hilos, botones, telas en general, correderas, y pellones. Con su credikiva logrará aumentar su capital de trabajo aun mas, y también resolver sus desafíos asociados a la competencia de ropa extranjera desde el país vecino país de Panamá. Ella prevee que apoyada en sus financiamientos puede comprar en mayor cantidad con mejores precios y obtener telas e insumos mas modernos y de mayor calidad, y sacar una producción con la que aspira a seguir sosteniendo su margen de utilidad que está en un36%.

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
  • 467
    View loans »
    Colombia Loans Fundraising
  • $15,270,025
    Funds lent in using Kiva
  • 1,860.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Noris Teresa to buy raw materials and supplies such as threads, buttons, general fabrics, zippers and fleece.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 4, 2011
Listed
Mar 14, 2011
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2012