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Miguel
52-year old Miguel is a responsible person. He lives with his 51-year old wife Lucia and three of their five children in his own home. They all work hard to get ahead in life.

For the last ten years Miguel has earned his living by making underwear in the workshop located in his house. He works there with his wife and adult children; they are the reason why Miguel wishes to expand his business. His son is studying fashion design, specializing in fine lingerie. He sells not only to individual shopkeepers but also to large, prestigious stores.

He enjoys his work because he can do it in the comfort of his own home and above all because he is independent. He now needs to obtain a large quantity of local cotton material so he can continue making his products and expand into other markets. In the future he is keen to see his business become a formal company.

This is Miguel’s first loan with Kiva partner MFP, and he promises to repay the money punctually as he would like to continue with the program in order to expand his business. With this loan he is planning to buy cotton material so he can complete outstanding orders.
View original language description ↓
Miguel, de 52 años, es un hombre muy responsable. Vive en su casa propia junto a su esposa Lucia de 51 años y sus 3 hijos de los 5 que tiene en total, con quienes trabajan arduamente para salir adelante. Desde hace 10 años, se dedica a la confección de prendas íntimas, siendo su lugar de trabajo su taller, situado en el primer ambiente de su casa. En ella trabajan conjuntamente con su esposa y sus hijos mayores, quienes le motivan a crecer y ampliar su negocio. Por ello su hijo estudia diseño de modas, especialmente en la confección de lencerías finas. De ese modo no solo vende a los comerciantes informales, sino también a las tiendas comerciales y de prestigio. Le gusta la actividad que desarrolla, porque lo realiza en la comodidad de su casa y sobre todo que es independiente. En vista de ello, necesita proveerse de mayor cantidad de algodón nacional, para continuar confeccionando sus prendas y de ese modo abarcar a más mercados, ya que en adelante anhela crecer y convertirse en una empresa formal. Es su primer crédito con MFP, se compromete a pagar todas sus cuotas de manera puntual, ya que le gustaría seguir contando con futuras ayudas para crecer con su negocio. Con el crédito que solicita, piensa comprar telas de algodón, para abastecer los pedidos pendientes.

About Peru

  • $6,715
    Average annual income
  • 64
    View loans »
    Peru Loans Fundraising
  • $53,963,900
    Funds lent in using Kiva
  • 2.8
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Miguel to buy cotton material to complete outstanding orders.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 11, 2011
Listed
Mar 18, 2011
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2011