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Erika
Erika, 35, is a married woman. She has two children who are 9 and 10 years of age. She lives in Barranquilla’s San Roque neighborhood with her family. She is well known for selling foodstuffs, soft drinks and sweets in general. She started the business five years ago selling “obleas” and “arequipes” (wafers and caramel) in a display case her aunt gave her. Gradually her orders increases and her business grew. Today, it’s a bit more stable but with very little working capital. Her principal market is housewives, adolescents and children. Erika intends to increase her sales and this is why she’s calling on her Kiva loan to buy large volumes of rice, oil and canned grains to qualify for discounts while also reducing costs associated with frequent purchases which currently are every two days.

Her dream for the future is to enlarge the business diversifying her stock merchandise so that she can run it with employees who will generate their own incomes.

Her greatest challenge is the little capital she can count on and this first loan from Fundación Mario Santo Domingo will start her on the road towards an increase in working capital.
View original language description ↓
Erika es una mujer de 35 años casada que tiene dos hijos en las edades de 9 y 10 años; en el barrio San Roque de la ciudad de Barranquilla, lugar donde habita con su familia, ella es muy conocida por vender víveres, refrescos y dulcería en general, negocio que inició hace 5 años con la venta de obleas, arequipes en un vitrina que le regaló su tía; como gradualmente empezaron a incrementarse los pedidos, su negocio se fue ampliando y hoy está un poco más estable pero con muy poco capital de trabajo, su principal mercado son las amas de casa, jóvenes y niños y Erika se propone incrementar sus ventas; esta es la razón por la cual acude a su credikiva con el cual comprará en mayor volumen arroz, aceite, granos enlatados, y ganará descuentos, reducirá los gastos que generan la frecuencia de compra que en la actualidad es de dos días. Su sueño más adelante es ampliar su negocio diversificando la oferta de productos, para ella dedicarse a administrarlo teniendo empleados que generen sus propios ingresos. Su mayor desafío es el poco capital con el que cuenta y con este primer financiamiento que hace a la Fundación Mario Santo Domingo iniciará su camino dirigido a aumentar su capital de trabajo.

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
  • 285
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,828.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Erika to buy large volumes of rice, oil and canned grains to qualify for discounts.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 20, 2011
Listed
May 22, 2011
Currency Exchange Loss:
Covered
Ended:
May 15, 2012