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Luz Elena
Luz lives in the Los Caracoles neighborhood of the city of Cartagena. She is a merchant dedicated to selling clothing, shoes and accessories, an activity she always saw her mother carry out, and from whom she actually learned everything she knows today. On this foundation, she has built a small amount of working capital that she would like to increase in order to fulfill her dream of offering her 16-year old daughter a bright future.

Her business consists of selling a variety of merchandise such as cosmetics, accessories, perfumes, and everything that is requested of her, through a system of credits and payment plans agreed to with her customers in accordance with the value of her merchandise and the potential of each one. For this reason, Luz rotates her merchandise quickly and recovers her investment in semi-monthly or monthly installments.

This is her first loan through the Fundación Mario Santo Domingo. With it, she will buy men’s clothing, with the goal of having the items for the period before Father’s Day when sales increase. This is exactly what will make her investment successful, as her greatest fear is not having enough working capital to respond in a timely manner to her customers’ requests. For this reason, she is carefully programming her payments as well as her next credit renewals.
View original language description ↓
Luz residente en el barrio Los Caracoles de la ciudad de Cartagena, es una comerciante dedicada a su negocio de vender ropa, calzado y accesorios, actividad que siempre ha visto realizar a su madre, pues fue justamente de ella, de quien aprendió todo lo que hoy sabe y sobre esta base, ha construido un pequeño capital de trabajo que desea aumentar, para genera mayores ingresos y lograr el sueño de ofrecerle a su hija de 16 años, un futuro prometedor. Su negocio consiste en vender mercancías variadas como cosméticos, accesorios perfumes y todo lo que le encarguen mediante el sistema de crédito y en plazos acordados con sus clientes de acuerdo al valor de su mercancía y a las posibilidades de cada uno, por eso luz rota rápidamente su mercancía por encargo y recupera su inversión en cuotas quincenales o mensuales. Este es el primer financiamiento que hace a la Fundación Mario Santo Domingo, con el comprará ropa para caballeros a propósito de la temporada previa a la celebración del día del padre, época en la cual se incrementan las ventas y esto es justamente lo que hará de su inversión todo un éxito, porque su mayor desafío es tener poco capital de trabajo, para responder oportunamente las solicitudes que sus clientes le hacen y por eso está programando muy bien sus pagos, lo mismo que sus próximas renovaciones de crédito.

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
  • 498
    View loans »
    Colombia Loans Fundraising
  • $14,954,225
    Funds lent in using Kiva
  • 1,782.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Luz Elena purchase men's clothing.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 31, 2011
Listed
Jun 12, 2011
Currency Exchange Loss:
Covered
Ended:
Oct 18, 2012