Check out some available loans that are similar to this one!
Fredy
Fredy is a married man who has two children, ages 13 and 19. He is a leather craftsman who established his business as a way of generating extra income. His dream is to expand his business so that he can continue improving his family’s well-being. Fredy is a hard worker. When he retired from the Colombian Armed Forces with a pension, he did not hesitate in starting a business so that he could keep himself entertained and earn some additional money. Fredy decided to get some training and then established his business using what he had learned. Over time, he was able to achieve some surprising results.


Fredy now has a market for his products and sells them for cash or on credit. He has aspirations of expanding his business and offering new product lines. His greatest challenge is competition since there are many cheap shoes available for sale in the marketplace. Despite his lack of business experience, Fredy’s entrepreneurial spirit and commitment to service are his greatest strengths which will help him overcome this challenge.


This Kiva loan is the first one he has received from Fundación Mario Santo Domingo. He will use the money to buy leather, accessories, and an industrial sewing machine to improve his manufacturing processes for creating a high-quality product. As a result, he will be able to expand his market. One can predict that by being disciplined and utilizing his negotiating skills, Fredy will become a great success and make each moment a productive one.

View original language description ↓
Fredy es un hombre casado que tiene dos hijos en las edades de 13 y 19 años. Èl se dedica al oficio de marroquinerìa, desarrollado como una forma de generar ingresos adicionales con el que sueña ampliar para continuar fortaleciendo el bienestar de su Famiia. Fredy es un hombre muy trabajador, por eso cuando salió pensionado de las Fuerzas Armadas de Colombia, no dudò en dedicarse a una actividad que ademas de generarle entretenimiento, le facilitara ganar un dinero extra y por ello se dedicó a capacitarse y se dió tambien a la tarea de emprender su propio negocio con lo que aprendió, y poco ha poco ha logrado sorprendentes resultados; ahora Fredy cuenta con un mercado al que le vende a crèdito y de contado y su aspiración es ampliarlo, adicionandole nuevas líneas de producción, porque su gran desafio es la competencia de mucho calzado barato en el mercado, no obstante sus capacidades comerciales, acompañada de su vocacion emprendedora y de servicio, son la gran fortaleza con las que cuenta para obtener los logros previstos y responder a este desafio. Su credikiva es el primer financiamiento que hace a la Fundación Mario Santo Domingo, con el comprará cueros, accesorios y una máquina guarnecedora para mejorar los procesos productivos, aumentar la calidad de sus productos y con ello lograr el incremento de su mercado, al que auguramos un gran èxito por la disciplina y las habilidades negociadoras que Fredy imprime en cada momento productivo.

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
  • 515
    View loans »
    Colombia Loans Fundraising
  • $14,939,400
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Fredy to purchase leather, accessories, and an industrial sewing machine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2011
Listed
Jun 16, 2011
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2012