His washing machine rental business has been strengthened in terms of more customers, but the equipment needs to be replaced. For this reason, his goal is to buy more machines so that he can respond better to his customers and continue generating income to improve his family’s well-being. This Kiva loan is the first one he has received from Fundación Mario Santo Domingo. Hernando will use the funds to buy three washing machines, as well as sandals that come in modern designs that will appeal to the local women. He foresees that his investments will be successful since he will be able to respond to service requests and increase his chances of attracting new customers who need to rent washing machines. His busiest times are on Fridays, Saturdays, Sundays, and fair days since many customers have no one else who can meet the demand on those days. While he continues to build his dream, Hernando strives to increase profitability. At the moment, the profit margin from his sales is a minimum of 29%.
About Fundación Mario Santo DomingoFundación 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.
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Success!! The loan was 100% repaid